X Holding's Delisting: A Probing Internal Audit Analysis and Organizational Structure Innovations in Internal Audit

X Holding has been punished by CSRC and forced to delist by SSE due to its regulatory violations. This study delves into issues existing in X Holding from an incisive perspective of internal audit, such as irregular decision-making process, unreasonable use of funds, the phenomenon of one person holding two positions, insufficient establishment and functioning of the supervisory board, and irregularities in the recruitment of external audit. Combining with the practical experience, the study emphasizes the decentralized power of enterprises and the establishment of mutually restrictive and well-functioning internal audit organizational structure, and its importance to the independence, authenticity and impartiality of internal audit. Concluding several items that auditors need to pay particular attention to in the process of internal audit. Furthermore, the study researches the organizational structures of internal audit commonly adopted in practice by Chinese enterprises and concludes a well-functioning internal audit organizational structure. Ultimately, the study provides a prospective on audit under the background of the new Securities Law.