Open AccessOn the Challenge of Accounting Standards for Enterprise towards Enterprise Internal Control
Author(s) -
Wenjun Chen,
Shanshan Sui
Publication year - 2009
Publication title -
journal of sustainable development
Language(s) - English
Resource type - Journals
eISSN - 1913-9071
pISSN - 1913-9063
DOI - 10.5539/jsd.v1n2p47
Subject(s) - promulgation , accounting , accounting information system , control (management) , business , christian ministry , control environment , safeguard , capital (architecture) , finance , economics , internal audit , management , law , joint audit , audit , archaeology , political science , international trade , history
With arrival of the information age, as well as the ever-changing and complicated capital and financial markets and financial instruments, the policy –making requirements of the enterprises on the faithful, accurate, reasonable, and effective financial and accounting information become more demanding. Enterprise internal control proves to be the basic safeguard to ensure the regular and reliable operation of the accounting information system. At the same time, the Ministry of Finance issued the Internal Control Standards - the Basic Norms and opinion-open drafts for 17 norms. The promulgation of accounting standards for enterprise has brought tougher internal control challenges.