Academic Journal of Business & Management, 2025, 7(4); doi: 10.25236/AJBM.2025.070433.
Weijun You
School of Economic, The University of Sydney, Sydney, Australia
With the acceleration of global economic integration, International Accounting Standards have become the core framework for corporate financial disclosure and risk management. This paper focuses on the optimization path of enterprise internal control system under international accounting standards, and puts forward systematic improvement strategies by analyzing the current situation and problems of the existing system. At present, there are many problems in enterprise internal control, such as loose governance structure, static risk assessment, disconnection between technical tools and systems, etc., which are difficult to meet the requirements of international accounting standards for dynamic risk monitoring and comprehensive compliance. To this end, this paper proposes a variety of strategies to optimize the internal control environment, improve the risk assessment mechanism, standardize the authorization approval process and so on. The study highlights the need for companies to upgrade internal controls from passive compliance tools to strategic support systems to enhance financial information reliability, improve risk resilience, and build sustainable advantages in global competition.
Enterprise internal control system, international accounting standards, optimization strategy
Weijun You. Optimization Strategy of Enterprise Internal Control System under International Accounting Standards. Academic Journal of Business & Management (2025), Vol. 7, Issue 4: 262-267. https://doi.org/10.25236/AJBM.2025.070433.
[1] Schmidthuber, L., Hilgers, D., Hofmann, S.: International Public Sector Accounting Standards (IPSASs): A systematic literature review and future research agenda. Financial Accountability & Management, Vol. 38 (2022) No. 1: 119-142.
[2] Hammer, T., Siegfried, P.: Value-Based Controlling & International Accounting Economic Value Added (EVA)–An Overview. Accounting and Finance, (2022) No. 2: 96.
[3] Polzer, T., Grossi, G., Reichard, C.: Implementation of the international public sector accounting standards in Europe. Variations on a global theme. In: Accounting Forum. Routledge, Vol. 46 (2022) No. 1: 57-82.
[4] Patel, C., Harrison, G.: Theoretical and methodological milestones in international accounting research: the contributions of Jill L. McKinnon. Accounting, Auditing & Accountability Journal, Vol. 34 (2021) No. 8: 1693-1713.
[5] Tettamanzi, P., Venturini, G., Murgolo, M.: Sustainability and financial accounting: A critical review on the ESG dynamics. Environmental Science and Pollution Research, Vol. 29 (2022) No. 11: 16758-16761.
[6] Sisaye, S.: The influence of non-governmental organizations (NGOs) on the development of voluntary sustainability accounting reporting rules. Journal of Business and Socio-economic Development, Vol. 1 (2021) No. 1: 5-23.
[7] Shrestha, P., Choi, B., Luo, L.: Does a carbon management system mitigate the consequences of carbon emissions on firm value? An international study. Journal of International Accounting Research, Vol. 21 (2022) No. 3: 147-167.
[8] Seah-Tan, S.: Business Combinations under Common Control: A Controlling Entity Cost Approach. Australian Accounting Review, Vol. 31 (2021) No. 4: 328-331.
[9] Kaawaase, T. K., Nairuba, C., Akankunda, B., et al.: Corporate governance, internal audit quality and financial reporting quality of financial institutions. Asian Journal of Accounting Research, Vol. 6 (2021) No. 3: 348-366.
[10] Schaltegger, S., Christ, K. L., Wenzig, J., et al.: Corporate sustainability management accounting and multi-level links for sustainability–A systematic review. International Journal of Management Reviews, Vol. 24 (2022) No. 4: 480-500.
[11] Nurhayati, I., Azis, A. D., Setiawan, F. A., et al.: Development of the digital accounting and its impact on financial performance in higher education. Journal of Educational and Social Research, Vol. 13 (2023) No. 2: 55-67.
[12] Zhao, G., Liang, S., Zhang, J., et al.: Religious tradition and employee compensation. Journal of International Accounting Research, Vol. 21 (2022) No. 3: 169-185.
[13] Gardi, B., Hamza, P. A., Sabir, B. Y., et al.: Investigating the effects of financial accounting reports on managerial decision making in small and medium-sized enterprises. Turkish Journal of Computer and Mathematics Education, Vol. 12 (2021) No. 10: 2134-2142.
[14] Bisogno, M., Caperchione, E., Caruana, J., et al.: Public sector accounting current developments—insight, critique and transformative redefinitions. Public Money & Management, Vol. 44 (2024) No. 8: 651-654.
[15] Giner, B., Luque-Vílchez, M.: A commentary on the “new” institutional actors in sustainability reporting standard-setting: a European perspective. Sustainability Accounting, Management and Policy Journal, Vol. 13 (2022) No. 6: 1284-1309.