Based on the "Application Guidance for Enterprise Internal Control: Engineering Project", this paper takes the listed companies in construction industry as research samples. It has unscrambled the development rules of internal control quality in construction enterprises from two aspects: self-evaluation & verification, and goal achievement, and has further analyzed the impact of the internal control quality on the corporate value. The study finds that: (1) The internal control quality of the companies concerned has been improving from 2008 to 2012, especially after 2010; (2) the internal control quality of engineering projects has a significant positive correlation with companies' sustainability and their current market value. This study would provide support to and serve as references for future efforts to strengthen the establishment of internal control quality and to upgrade the corporate value.