The Study On The Information Disclosure Quality Of Internal Control Self-assessment Report Based On Energy Listed Company In China

As an important part of accounting information disclosure, internal control informationdisclosure has always been a heated topic of academic research, which aroused worldwideconcern after Enron scandal, and the United States enacted the Sarbanes-Oxley Act (SOX) in2002. In China, the formulation and implementation of internal control information disclosureregulations in listed companies was relatively late. The major legal norms include “Guidelineson Internal Control” promulgated in succession by the the Shanghai Stock Exchange andShenzhen Stock Exchange in2006,“Basic Norms of Enterprise Internal Control”promulgated by the Ministry of Finance in2008,18application guidelines,“Internal ControlEvaluation Guidelines” and “Internal Control Audit Guidelines” issued in2010. From then on,the system on internal control norms was constructed, which is paid serious attention as animportant measure of enhancing the enterprise management level in China. In this paper,under the background of the new internal control system, I choose energy listed companies assamples and try to analyze the quality and the influential factors of internal controlinformation disclosure in China.This paper chose self-assessment reports of internal control as research object. First ofall, according to the statistical data of the present situation of internal control informationdisclosure in energy listed companies, I found that the enforcement of specifications related tointernal control was strenthened year by year. Secondly, this paper identified the quality ofinternal control information, and constructed a multilevel evaluation index system includingindexes on timeliness, authenticity, completeness and comparability, once more studied thequality of information exclosure of self-assessment reports. And then, this paper conductedthe empirical research on the influential factors of the quality of internal control informationexclosure. The result showed that the quality of internal control information disclosure ishigher in energy listed companies in which there are modest supervisory board meetings, the largest shareholder has a higher shareholding ratio, and in those who have a short listing timein Shanghai Stock Exchange and who employ the ten major accounting firms. The result alsoshows that the scale of board of directors, the proportion of independent directors, the scale ofcompany, the profitability and capital structure and other financial index have obscureinfluence in the quality of information disclosure in self-assessment report of internal control.At last, the paper proposed measures to improve the quality of internal control informationdisclosure including continuously optimizing the corporate government structure, perfectingthe laws and acts in internal control information disclosure and increasing the penalties andencouraging the disclosure of the internal control information autonomously.