| In recent years, the economy grows fast, while listed companies in China face many challenges. Numbers of financial fraud attract broad attention of society to the internal control information disclosure. Many financial frauds have been exposed, such as the china aviation oil incidents, the Yi Li executive’s suspecting of assets misappropriation, Huang Guangyu’s alleged involvement in economic crimes, the San Lu tainted Milk and the Shuanghui Group clenbuterol case. With raising awareness to the internal control, tougher supervision and more attention from society, the situation has made great progress.In2006, the internal control guidelines for listed companies have been issued by Shanghai stock exchange and Shenzhen stock exchange, which came into effect on July1,2006and July1,2007respectively. Next, the five ministries jointly issued the internal control standards(C-SOX) in2008, and then released the Supporting guidelines in2010. Though the listed companies have improved a lot in disclosing information of internal control, big gaps still exist compared with America and other developed countries. It is important and meaningful to reveal the current status and the questions, and some measures should be taken.Therefore, this paper consists of seven chapters to make discussion and exploration.Chapter1:introduction. The selected title background and the research significance are illustrated in this part. It also probes the study framework and research methodology of this dissertation.Chapter2:literature review. By introducing the literatures review at home and abroad, it reveals the main academic viewpoints and their research contribution. The foreign scholars mainly research on the necessity and the cost-effectiveness, and the disclosure of internal control defects. While the domestic scholars study the theoretical basis, the standard institution and the applications, both suggest many improvements. Chapter3:theoretical basis. Firstly, it defines some key concepts, and then presents some basic theories which are connected to this study.Chapter4:the development history and the theoretical framework. This part firstly illustrates the related specification of the study at home and abroad, and then put forward of the theory framework consist of the goals, the principles, the relevant actors, and the information revealing methods.Chapter5:status analysis. This part takes the A-stock listed companies in Shenzhen stock exchange main board as an example. The revealing situation has improved a lot than before while there are still some serious problems. For example, the quality of information is poor, and the content is not specific; the evaluation criterion and the format is not unified; the evaluation report lacks of disclosure of internal control drawbacks and detailed description; most companies do not disclose the evaluation opinions by the independent director, the board of supervisors and the CPA.Chapter6:case study-take Shuanghui Group as an example. Through specific case studies, this part illustrated the unique problems of this company. The Shaunghui Group lacks of the right motivation and strict internal control system, which brings about the inefficient rule implementation and internal control information distortion.Chapter7:measures to improve the listed company’s internal control information disclosure. Based on the analysis above, this part puts forward five suggestions. Firstly, the main responsibility must be clear at the board of directors, at the same time, the independence should be enhanced to the supervisors and the outside director. Secondly, we should make format and content standards to the evaluation report, which keeps the information of high quality and comparable. Thirdly, promote the implementation of the internal control standards and supporting guidance and set out specific plan. Fourthly, the supervisor must impose tougher supervision and punishment on the listed companies, and encourage CPA audit. Finally, strengthening internal control and cultivating high-quality personnel is also a key job.The contribution of the thesis includes:1. The data of this study is of effectiveness. While the internal control standards and supporting guidance have been put into effect recently, this study collects the recent data for statistical analysis and case analysis, which makes the conclusion more effective.2. The research method is also creative and practical. The research method includes normative research, case analysis and descriptive statistical analysis. This work makes a status analysis of the study and takes Shuanghui Group as example to reveal the problems, and finally puts forward five improving suggestions. |
