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Internal Control Standards for Sustainable Company Development
来源: Sichuan Tianyi Science & Technology Company 发布时间: 2012-03-23

STSTC Meeting on Internal Controls Mobilization  

Sichuan Tianyi held an internal controls and regulations meeting, on March 20, 2012, at the Shuangliu Tanghu Hotel, in Chengdu, to improve internal controls and standards and increase the company’s operation, management, and risk prevention ability.

 

The general manager, Li Shuxiang, spoke about “Internal Controls, Regulations, and Standards to Improve Management Ability”, and asked that everyone make an effort to improve internal control standards in four ways -- consolidating our leadership and focusing on implementation; working together and improving co-ordination; finding resources, making an effective budget, and improving auditing; and meeting requirements, being practical, and being efficient. Li went on to say that we need to see this as an opportunity, a chance to carefully sort out the company’s management rules and process, improve them based on our guidelines, and adapt the company’s characteristics to the situation for greater efficiency.

 

Xie Bing, the head of the Audit Dept, reported on “Implementing Internal Controls and Regulations for Sustainable Development”, and explained the methods and procedures for applying internal controls and the details and content of internal control, as well as the progress that has been made.

 

The company has a description of Internal Control Mechanism and Work that covers three main categories – the internal environment, control activities, and control methods. Each department is asked to streamline its management rules and system in accordance with a guidebook from the Shanghai Stock Exchange, China Securities Regulatory Commission, Ministry of Finance, and the National Audit Office -- which deals with 18 areas -- and pick out their defects and shortcomings and make the necessary changes.

 

The general idea is to make a unified plan, highlight the key points, and implement the plan in stages. In 2012, the internal control work and assessment will be handled by the management department, the PSA Institute, the Engineering Co, and the Luzhou branch, and is expected to be completed in 2013.

 

The internal control standards are being pushed in an active way and the Board of Directors and management are taking the matter seriously. There will be an implementation team led by the president, Gu Gongwei, and a work team, headed by the general manager, Li Shuxiang, and deputy general managers Wei Dan, Zeng Jia, and Zhou Jiangning. There will also be a special office with personnel from the management department and the three other branches that is responsible for internal control organization and implementation, with guidance from the leaders.

 

The meeting summarized all the work that has been done in preparing for the internal control implementation, and the standards are expected to improve the company’s operations and management and risk prevention for sustainable development.

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