Guidelines for Risk Control of Machine Tool Equipment Enterprises - T/WLJC 42-2017 - Financial Report

Scope

Scope: This standard stipulates the general guidelines for risk control in the field of enterprise financial reporting, including financial statement control objectives, incompatible positions, business processes, risk control of key links, key risk sources, and control measures. This standard applies to machine tool and equipment enterprises, as well as tool and cutting tool enterprises. Main technical content: For market-oriented competition, enterprise operational risks are everywhere. In May 2008, the Ministry of Finance, together with the China Securities Regulatory Commission, the National Audit Office, the SASAC, the China Banking Regulatory Commission, and the China Insurance Regulatory Commission, issued the "Basic Norms for Enterprise Internal Control" and 18 application guidelines for enterprise internal control in April 2010, which basically cover all business and matters such as capital flow, physical flow, human flow, and information flow in enterprises, and form a normative system for enterprise internal control in China. The "Basic Norms for Enterprise Internal Control" and the series of supporting guidelines for enterprise internal control are designed for listed companies and non-listed large and medium-sized enterprises to comprehensively improve their management and operation levels. However, some of its content is also applicable to the internal risk management of small and micro enterprises. This standard, taking into account the characteristics of small and micro machine tool manufacturing enterprises in Wenling City, selectively adopts most of the risk factors and control measures after weighing the pros and cons, and after being tailored, it forms 26 standards.

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