Comparative Study of China and the U.S. Internal Control Regulations Construction

China’s Ministry of Finance,The CSRC, the national audit office, the CBRC and the CIRC jointly issued the basic norms of corporate internal control and the supporting guidelines for internal control in enterprises in 2008 and 2010 respectively, indicating the establishment of China’s internal control standard system. Compared with the development of American internal control construction, the internal control construction in China started late, the regulations relating to internal control are mainly departmental and at a lower level, the content mainly focuses on the issues such as accounting, all of these seriously restrict the further promotion and implementation of Chinese enterprises internal control regulations. The internal control of the United States has been at the forefront of the world. Therefore, it is necessary to draw lessons from the internal control construction in the US, explore the bottleneck that restricts the construction of our internal control laws, and promote the construction and perfection of our internal control. Based on the analysis of the relevant laws and regulations of the internal control system of Chinese and American enterprises, the paper makes a comparative analysis of the formulation mechanism, implementation mechanism of the internal control of Chinese and American enterprises, and finally puts forward some suggestions on improving our internal control laws and regulations.