Back
 JFRM  Vol.9 No.3 , September 2020
Reflections on the Construction of the Internal Financial Control System of Group Company Subsidiaries under the Financial Centralized Management System
Abstract: The financial management of the group company is faced with high requirements and relatively great difficulty, especially with the increase of the number of subsidiaries, it is more likely to have deviation and confusion in financial management. The financial centralized management system has become an important mode, which is widely used in the group companies, and has indeed played an important role in the financial management of the group companies. In order to better rely on the financial centralized management system to achieve effective management and constraints for the group company subsidiaries, the construction of a feasible financial internal control system is a necessary condition. This paper first briefly introduces the financial centralized management system and the necessity of its application, then expounds the overall requirements and strategies for the construction of the financial internal control system of the subsidiary companies under this background, and finally discusses the key points of the construction of the corresponding financial internal control system, hoping to have reference function.
Cite this paper: Deng, T. (2020) Reflections on the Construction of the Internal Financial Control System of Group Company Subsidiaries under the Financial Centralized Management System. Journal of Financial Risk Management, 9, 268-277. doi: 10.4236/jfrm.2020.93015.
References

[1]   Borovikov, A., & Smolyakov, O. (2019). Principles of Organization and Structure of the Management System of a Holding Type Company. Upravlenie, 7, 122.

[2]   Catherine, N. (2020). Credit Risk Management and Financial Performance: A Case of Bank of Africa (U) Limited. Open Journal of Business and Management (OJBM), 8, 30-38.
https://doi.org/10.4236/ojbm.2020.81002

[3]   COSO (2017). Enterprise Risk Management—Integrating with Strategy and Performance.

[4]   Dombrovskaya, E. (2020). Risk-Based Internal Control over Formation of Financial Reporting. In T. Antipova, Ed., Integrated Science in Digital Age, ICIS 2020 (Vol. 136, pp. 42-52), Shanghai: Springer, Cham.
https://doi.org/10.1007/978-3-030-49264-9_4

[5]   Jia, S. Q. (2020). Problems and Solutions of Financial Management Transformation under the Establishment of Financial Shared Service Center. Open Journal of Social Sciences (JSS), 8, 251-257.
https://doi.org/10.4236/jss.2020.83023

[6]   Muwema, T., & Phiri, J. (2020). The Impact of Integrated Financial Management Information Systems on Procurement Process in Public Sector in Developing Countries—A Case of Zambia. Open Journal of Business and Management (OJBM), 8, 983-996.
https://doi.org/10.4236/ojbm.2020.82062

[7]   Ntwali, A., Kituyi, A., & Kengere, A. O. (2020). Claims Management and Financial Performance of Insurance Companies in Rwanda: A Case of SONARWA General Insurance Company Ltd. Journal of Financial Risk Management (JFRM), 9, 190-210.
https://doi.org/10.4236/jfrm.2020.93011

[8]   Nusa, I. B. S. (2020). Quality of Audit System Information for Internal Control Effectiveness. In Warlina, L., Ed., Proceedings of the International Conference on Business, Economic, Social Science, and Humanities—Economics, Business and Management Track (ICOBEST-EBM 2019) (p. 58), Paris: Atlantis Press.
https://doi.org/10.2991/aebmr.k.200108.046

 
 
Top