企业内部控制制度英文文献和翻译 第4页

Control activities relate to the procedures carried out and the need to integrate these procedures with risk assessment.
The elements of the COSO model were described in detail in the previous chapter. Internal control and the Combined Code Like the IFAC report ( International Federation of Accountants,1999), the Turnbull report ( Institute of Chartered Accountants in England & Wales,1999) emphasized that Since profits are, in part, the reward for successful risk-taking in business, the purpose of internal control is to help manage and control risk appropriately rather than to eliminate it. Code C.2 of the Combined Code (Financial Reporting Council, 2003) relates to internal control. Code provision C.2.1 states:
The board should, at least annually, conduct a review of the effectiveness of the group’s system of internal controls and should report to shareholders that they have done so. The review should cover all material controls, including financial, operational and compliance controls and risk management systems. The Combined Code encompasses the Turnbull Guidance (Institute of Chartered Accountants in England and Wales, 1999), which provides guidance further to Code C.2, that The board should maintain a sound system of internal control to safeguard shareholders’investment and the company’s assets. Senior executives have long sought ways to better control the enterprises they run.

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Internal controls are put in place to keep the company on course toward profitability goals and achievement of its mission, and to minimize surprises along the way. They enable management to deal with rapidly changing economic and competitive environments, shifting customer demands and priorities, and restructuring for future growth. Internal controls promote efficiency, reduce risk of asset loss, and help ensure the reliability of financial statements and compliance with laws and regulations.
Because internal control serves many important purposes, there are increasing calls for better internal control systems and report cards on them. Internal control is looked upon more and more as a solution to a variety of potential problems. What Internal Control Is Internal control means different things to different people. This causes confusion among businesspeople, legislators, regulators and others. Resulting miscommunication and different expectations cause problems within an enterprise. Problems are compounded when the term, if not clearly defined, is written into law, regulation or rule.
This report deals with the needs and expectations of management and others. It defines and describes internal control to:
Establish a common definition serving the needs of different parties.
Provide a standard against which business and other entities--large or small, in the public or private sector, for profit or not--can assess their control systems and determine how to improve them.
Internal control is broadly defined as a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
1. Effectiveness and efficiency of operations.
2. Reliability of financial reporting.

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