银行内部控制中英文外文文献翻译2017.doc

本科毕业设计（论文） 中英文对照翻译 (此文档为word格式,下载后您可任意修改编辑!) 文献出处：Jimmy C. The Study on bank Internal Control[J]. Journal of Banking Finance, 2017, 2(2): 377-386. 原文 The Study on bank Internal Control Jimmy Cherry 1. Introduction An effective internal control system is the nerve centre of every organization, the breakdown of which leads to the failure of organizations. Internal control is a crucial aspect of an organization s governance system and ability to manage risk. It ensures the achievement of organizations objectives and creating, enhancing, and protecting stakeholder value (IFAC, 2012). Precipitating the current global financial crises is the high profile corporate failures such as Enron and WorldCom in the USA, Parmalat in Europe, and similar cases of corporate collapse around the world (Amudo Inanga, 2009). Failure of internal control systems and the eventual circumvention of internal controls by company executives accounted for these corporate scandals. Organisations must ensure that their internal control systems remain relevant in today s business model. 2. Theory and related literature Definition of internal control system COSO in 1992, defined internal controls as a process, and rightly so because an internal control system is not an end in itself but a means to an end. Internal control is defined as a “process, effected by an entitys board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: Effectiveness and efficiency of operations, Reliability of financial reporting, Compliance with applicable laws and regulations” (COSO, Internal Control-Integrated Framework, 1992). Again the Basel committee on banking supervision defined internal controls “as a process effected by board of directors, senior management and all levels of personnel. It is not solely a procedure or policy that is performed at a certain point in time, but rather it is continually operating