The Research Of Listed Companies' Internal Control Information Disclosure

Since the end of 2001, "Enron" has been exposed and fraud scandals in the United States have become increasingly capital market trends, which fully exposed serious internal control problems of listed companies. In light of these financial fraud, in 2002 the U.S. Congress passed the "Sarbanes-Oxley Act", the 404th treatment of the act require listed companies to report the internal control information along with the financial report. These reports also require auditors to certify and report .This indicates internal control information turn from voluntary disclosure stage to mandatory disclosure stage.Recently, there have been a number of financial scandals of the listed companies. Securities Regulatory Commission of China has issued a whole series of regulatory documents, giving unprecedented attention to internal controls. Securities Commission has requested the public securities companies, commercial banks, insurance companies to provide internal control information. However, the disclosure of information related to the internal controls regulating still have a lot of problems. Many listed companies involuntarily disclose the practice. The disclosure of information of internal controls largely a mere formality but the quality is far from satisfactory. In this context, this paper on the basis of reasonable experience from the United States in the"Sarbanes-Oxley Act"discusses the disclosure of internal control information of the listed company.The idea of this paper is as follows: summary of theories, theories analysis; currentsituation explanations, reason discussion, institution improvement.This paper contains five chapters:Chapter One PrefaceFirst, the background and significance of this study are introduced, Second, reviewed the current, research situation of the internal control information disclosure of listed companies.Chapter Two The theory analysis of internal control information DisclosureFirstly, the present chapter describes concept of the internal control and internal control information disclosure .Secondly this chapter discusses theory foundation of internal control information, and explains why Information Disclosure is needed.Chapter Three The current situation and analysis of disclosure of internal control information in the listed companies of our countryAt the beginning of this chapter, the writer introduces the regulations related to disclosure of internal control information in our securities market. Secondly, the writer does some statistical analysis on the annual report of 157 listed companies in 2005. Third, the reasons from the internal and external aspects are analyzed, So the writer thinks that regulatory authority demand the management of the listed companies to disclose reporting on internal control, in order to strengthen management responsibility and protect the interests of investors.Chapter Four Basic framework for internal control information disclosure of listed companiesFirst, the writer discuss the disclosure of internal control information about the facets of the scope, and the main time, secondly, the evaluation of internal controls, finally, The report should include an internal control that the main content .Chapter Five Some proposals to disclosure of information to improve our internal controlFormer Chapter discusses internal control information disclosure of listed companies in China status, as well as their reasons. Internal control the disclosure of information on combining results of the study, This chapter from the internal control and internal control information related to both standardize information disclosure of listed companies to improve our internal control the disclosure of information to make a few suggestions.Making a general survey of this paper, the characteristics of the paper are as follows:First, there is little systematic research on management reporting on internal control in our country. The writer makes a systematic research on management reporting on internal control on the basis of situation in our country .The part discusses the concept, main, characteristics, scope, time, evaluation procedures, content, in order to set up the mechanism of internal control reporting.Second, this paper researches the establishment of management reporting on internal control by theory explanation and chart illustration, and try to design reference form of management reporting on internal control and audit reporting on internal control.Because of the limit of experience and research level, the paper needs further perfection. I would appreciate very much if teachers and Classmates give me suggestions. I will get on my research further in this filed.