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Competitive market economic opportunities but also makes corporate finance at greater risk Lee crisis. Early detection of the signal of the financial crisis, forecasting the financial failure of the enterprise, enabling operators to take effective measures in the financial crisis bud failure of prevention is very important. Therefore, the study of the financial early warning system, not only has the theoretical value, also has a guiding role on the company's financial management practices. Financial Crisis Warning in developed countries has long been, the research results for the financial early warning model is relatively mature. Of the financial early warning research began in the 1980s. However, the children almost all of the existing research has focused on finding the best financial indicators model to predict the financial crisis, the preliminary work for the corporate financial early warning - Financial information collected transmission mechanism, late work - risk management mechanism. This paper attempts to achieve a breakthrough in this regard. Build financial early warning systems, including financial early warning organizational system, financial information collected - transfer mechanism, the financial early warning - analysis of mechanisms and financial risk management mechanisms. The potential risks of the enterprises in the operation and management activities in real-time monitoring system. It runs through the whole process of business activities, based on corporate financial statements and other related information, the use of model analysis, ratio analysis and other methods, the existence of the business risk to operators warning. In this paper, empirical analysis and normative analysis in the course of the study a combination of theoretical knowledge of financial management, accounting, economics, system science, the main use of listed companies financial early warning system. The main content of the article consists of three parts. The first part defines the concept of financial early warning system, the nature, functions and framework of the financial early warning system. The second part of the financial early warning system. In this paper, the organization chart of the financial early warning organizational system and work flow; learn from domestic and foreign financial early warning model, 60 listed companies in Shanghai and Shenzhen as samples, the use of stepwise discriminant analysis to establish the financial early warning model, and early warning effect of the model were tested. On this basis, combined with the existing financial indicators, building corporate financial risk monitoring and identification index system. The paper also proposed some strategies to prevent financial risks. The third part \
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