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论文编号：	13361
作者编号：	2320190587
上传时间：	2022/6/13 10:31:15
中文题目：	A证券公司投资银行业务内部控制的优化研究
英文题目：	Research on the Optimization of Internal Control of Investment Banking Business of A Securities Company
指导老师：	张晓农
中文关键字：	证券公司；投资银行；内部控制
英文关键字：	Securities Firms； Investment Banking； Internal Control
中文摘要：	证券公司作为资本市场中的重要角色，包括三大传统业务板块，经纪业务、自营业务和投行业务，而其中投行业务在证券公司的发展中起着很重要的作用。在资本市场中，由于投资银行担任中介保证的角色，在出具最终承销文件的过程中，需要确保万无一失，所以内部控制板块可能显现的问题要比普通公司更为严峻。近些年，广发证券、德邦证券均因为投行业务的违规问题受到相关监管机构的处罚，主要由于证券公司承销过程中未能勤勉尽责地履行职责。不止于此，2020年新的《证券法》正式施行后，注册制取代核准制，更加凸显了证券公司把关者的角色，同时也是对其内部控制有了更高的要求，提高业务的质量内部控制能力是证券公司提升竞争力有效措施。本文由六部分组成：第一部分是文章的绪论。这一部分主要介绍本文的研究背景。对于证券公司投行业务内控重要性研究的意义加以明确。同时介绍了研究方法、研究内容和创新点。第二部分是理论基础和文献综述。介绍了投行业务内部控制国内外研究情况及相关理论。第三部分首先介绍了A证券公司的内部控制概况，根据一个风险案例，基于COSO内部控制框架介绍A证券公司投行业务内控现状和问题，并分析了A证券公司投行业务内部控制的问题及产生原因。第四部分是根据前述发现的问题，对投行业务内控问题的改进方案设计。通过COSO内部控制框架，提出有针对性的优化方案。第五部分是投行业务内控改进的保障措施和预期效果，有利于内部控制改进工作的落实并提出改进后实现的成效。第六部分是对于本文的总结以及对未来的展望。通过分析可以看出，导致A证券公司投行业务内部控制出现问题的原因有五个方面，分别是股权架构未能及时调整、未深入投行质量领先的理念、过度重视业绩激励为导向、团队激励机制不合理，重视业务而忽略信息化建设。本文认为A证券公司应该通过建立股债分离的组织架构、质量控制部门提前介入项目、增加以风险目标为导向的项目准入机制、建立合理的合规监测与激励机制及加快信息系统建设等措施提升A公司投行业务内控整体水平。
英文摘要：	As an important role in the capital market, securities companies include three traditional business segments, brokerage business, proprietary business and investment banking, among which investment banking plays a very important role in the development of securities companies. In the capital market, as investment banks play the role of intermediary guarantee, they need to ensure that there is no mistake in the process of issuing the final underwriting documents, so the problems that may appear in the internal control sector are more serious than those of ordinary companies. In recent years, GF Securities and Debang Securities have been punished by relevant regulatory authorities for violations of investment banking business, mainly due to the failure of securities companies to perform their duties diligently in the underwriting process. More than that, after the formal implementation of the new securities law in 2020, the registration and approval system highlights the role of the gatekeeper of securities companies. At the same time, it also has higher requirements for their internal control. Improving the quality of business and the ability of internal control is an effective measure for securities companies to improve their competitiveness. This paper consists of six parts: the first part is the introduction of the article. This part mainly introduces the research background of this paper. The significance of the research on the importance of internal control of investment banking business of securities companies is clarified. At the same time, it introduces the research methods, research contents and innovations. The second part is the theoretical basis and literature review. This paper introduces the research situation and related theories of internal control of investment banking at home and abroad. The third part first introduces the general situation of internal control of a securities company. According to a risk case, it introduces the current situation and problems of internal control of investment banking business of a securities company based on COSO internal control framework, and analyzes the problems and causes of internal control of investment banking business of a securities company. The fourth part is the improvement scheme design of the internal control of investment banking according to the problems found above. Through COSO internal control framework, targeted optimization scheme is proposed. The fifth part is the safeguard measures and expected results of the improvement of internal control in investment banking, which is conducive to the implementation of the improvement of internal control and puts forward the results achieved after the improvement. The sixth part is the summary of this paper and the prospect of the future. Through the analysis, it can be seen that there are five reasons for the problems in the internal control of the investment banking business of a securities company, namely, the failure to adjust the equity structure in time, the failure to go deep into the concept of leading the quality of the investment bank, the excessive emphasis on the guidance of performance incentive, the unreasonable team incentive mechanism, the emphasis on business and the neglect of information construction. This paper believes that a securities company should improve the overall level of internal control of investment banking business of a company by establishing the organizational structure of separation of shares and debts, the quality control department intervening in the project in advance, increasing the project access mechanism guided by risk objectives, establishing a reasonable compliance monitoring and incentive mechanism and accelerating the construction of information system.
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