Research On Internal Control Self-assessment Disclosure Of ST Companies

In the 1980s America’s Treadway Commission in-depth investigation and study the reason of fraud phenomenon emerge in endlessly, the results showed that the failure of internal control to a large extent, directly or indirectly led to the occurrence of corporate fraud. Therefor,the United States accelerated issued the famous Sarbanes-Oxley Act, leading up to the stage of the American enterprise information mandatory disclosure of internal control. To be similar, with our country capital market financial scandals happened frequently, fully exposed, including public interest entities, many enterprise’s internal control system and execution mechanism exists many problems, and these problems in the ST companies is particularly prominent and obvious. In order to meet the requirements of information users, ensure the smooth and healthy development of capital market, we should focus on ST companies and self-evaluation report disclosure of internal control. Our country enterprise internal control system is imperfect, and lack of enforcement, to a certain extent, to promote our country to establish and perfect the internal control and its disclosure and continuous efforts. In 2008, the enterprise internal control basic norms under the cooperation and efforts of ministries to the promulgation and implementation of the final; Five ministries and then enacted in 2010, including evaluation guidelines, audit guidelines and application guide of form a complete set of guidelines, marked the our country enterprise internal control standard system has been gradually established, also means that information mandatory disclosure of internal control system has a strong legal basis.However,with our country’s internal control basic standard gradually establish and perfect the system, whether ST companies really in accordance with the requirements of the specification in the following year released to the public in a timely manner their own internal control self assessment report? Whether according to the enterprise itself situation of internal control defects recognition and standards of the rules for the implementation of specific? Which internal control defects are ST company found that exists in the development of the enterprise at this stage? Defects are identified in the internal control is the enterprise top attention and got timely treatment? This series for ST company in recent years, internal control self-evaluation report contains details of statistical analysis and research is very necessary.Therefore, this article reviews the recent literature home and abroad, combined with elaboration of the concept of internal control disclosure of information and the basic theory and the theory emphatically referred to the disclosure ST companies’ internal control self-assessment, and then to the 2012-2014 three year period from the ST company’s internal control assessment report disclosures were descriptive statistics. Article respectively, from the overall situation of ST companies to disclose internal control self-assessment report, as well as self-assessment reports the main responsibility, basis, object, scope, validity of the results, defects that standard, and the rectification of the defect disclosed eight specific matters more comprehensive detailed statistical analysis, the analysis and the results of the internal control self-assessment report ST company Disclosures of statistical results. Then will analyze the statistical data and the results of domestic and foreign scholars and combining the basic theory of internal control, respectively, from the ST companies’ financial condition, the degree of participation in governance and internal control evaluation guidelines layer defects three aspects of its disclosures were cause analysis. This paper reviews the use of literature research, statistical analysis, descriptive study, nearly three years since the internal ST companies to disclose information on the situation and the reasons for the commentary for a more detailed exposition of analysis. Finally, existing research results and theory respectively ST company improving the quality of financial companies, improve corporate governance layer ST company participation, improve internal control evaluation guidelines, as well as increased supervision and punishment is proposed to further improve the status of ST companies to disclose internal control self-assessment measures four aspects.