An Empirical Study On The Influence Of Audit Committee’s Characteristics On The Audit Opinions

As the well-known saying goes in the United States highlydeveloped capital market “When there is no audit committee you must bemore careful,Competent and focus, independent, strict audit committeeis in the interest of the public the most consistent in the guardian”, so Thecommittee, to ensure the quality of financial information, improving thelevel of management and optimization company image, has veryimportant significance. The audit committee as the modern companymanagement is an important system arrangement by the domestic andforeign scholars have highly, with the deepening of reform and openingup process and the market’s high-speed economic development needs,Our country also to copy western countries introducing the auditcommittee system begin from2002.However, due to the economicenvironment in western countries and there are bigger difference, theaudit committee system in China is still in the primary stage ofdevelopment. In these conditions, is the audit committee is financialinformation quality control function? Whether it is a valid fulfilled andexternal audit communication and coordination duties? How to improvethe audit committee of the features to make them more effective factors play functions? This paper from the audit committee to the characteristicsof the audit opinion with the listed company (the investors understand thelisted company financial level and operating conditions of the mostvisible, the most convenient reference basis with a view of the relation ofthe listed companies in China to the analysis of the audit committee ofthe management status.The audit committee early development in China has had almost10years`time, regulators also gradually strengthened the audit committeesystem set up the execution of the standard, each company to the auditcommittee of the information disclosure also gradually detail up. Thisarticle through to the audit committee shall establish a purpose, the auditcommittee effectiveness and the audit committee features the literaturereview and comb, mining the audit committee relative comprehensivecharacteristic factors (independence, specialized, the scale, diligent sex),and to establish contact with the audit opinions for empirical research.The empirical analysis is based on2008-2010in China listed onShanghai stock exchange, and able to open channel collect to the auditcommittee detailed information of the listed companies as the sample.Take descriptive statistics analysis, single variable analysis, thecorrelation analysis, and logistic regression analysis and stabilization inspection for empirical research.Empirical results show that: The audit committee of theindependence more heating, The company is the standard issued by thepossibility of audit opinions and smaller; The audit committee of thestronger professional, the company is the standard issued by thepossibility of audit opinions and smaller; The more bigger of the scale inthe audit committee, The company is the standard issued by thepossibility of audit opinions and smaller; And the audit committee of theindustry of the audit committee is also scheduled meeting times and thecompany has been issued by the audit opinions type and no significantcorrelation. In this paper the empirical results can be seen, having goodindependence, professional and appropriate scale of the audit committeeof the board can be effective for financial information to control thequality functions and for internal and external audit communicationfunction, to make the company is more likely to get standard auditopinions, the company is more investors. But compared with theEuropean and American mature the audit committee system, our auditcommittee does not have true related laws as executive basis. Thereforethis paper proposed that the legislation and the audit committee itselffeatures for further optimization, making the audit committee become China’s governance of listed company effective methods.