对于这种新型的期货公司——券商系期货公司内部控制的研究并不多见。实际上从国
内外期货市场发展历史看，不乏由于内部控制缺陷导致公司破产乃至影响行业发展的
典型事件。在行业快速发展的背景下，券商系期货公司的内部控制研究显得尤为必要。

通过对内部控制理论渊源和基础的梳理，本文将内部控制理论的发展划分为四个
阶段。在详细介绍 COSO 委员会内部控制框架体系之后，本文提出了对企业内部控制
评价和描述的准则。本文以申银万国期货公司为例，深入分析了其内部控制的现状和
特征，并提出了内部控制的改进思路。最后，本文提出了券商系期货公司内部控制的
政策与建议。

关键词：期货公司 内部控制 COSO 风险评估

Abstract
Chinese futures market has shown rapid growth since 2007, so the securities
companies hold the futures companies. Few researches have been carried on this new type
of futures companies. In fact, from the history of domestic and international futures market
development, there are a lot of typical events that the defect of internal control led to
bankruptcy. In the context of rapid development of industry, the futures brokerage
company's internal control research is particularly necessary.
Through theoretical origins and basic internal control combing, this article will divide
the development of the theory of internal control into four stages. In detailing the COSO
internal control framework, the paper presents the enterprise internal control evaluation and
description of the criteria. By illustrating on Shenyin&Wanguo Futures Company, this
paper analysis of the status of its internal controls and features, and put forward ideas to
improve internal controls. Finally, this paper presents futures brokerage company's internal
control policies and proposals.
Keywords: Futures company; Internal control; COSO; risk evaluate