The Research On The Impact Of Internal Control Information Disclosure On Audit Quality From The Perspective Of Life Cycle

In August 2012,China Securities Regulatory Commission and the Ministry of Finance jointly promulgated the Notice on the Main-Board companies implement enterprise internal control standard system by classification and batching in 2012.The notice requirements,to the end of 2013,China's listed companies should disclose the company's internal control information,which shows that China's internal control information disclosure began to enter the mandatory disclosure phase.whether the disclosure of internal control information will play a positive role for the listed companies became to a the increasingly concerned issue for the scholar.In this paper research process,we focus on the effect of internal control information disclosure on audit quality,and consider whether there are differences in the impact of internal control information disclosure on audit quality in the life cycle.After combing the relevant literature and theory,the measurement standard of the internal control information disclosure quality and audit quality are determined.We select the listed company data in 2013-2015 as the initial sample data,which time is the full access to mandatory disclosure stage.The regression model is used to study the relationship between the internal control information disclosure and the audit quality.Firstly,the full sample regression study for the data revealed the impact of internal control information on the quality of the audit.we got a concluded that the disclosure of internal control information of listed companies can significantly improve the quality of the external audit.After divided the listed companies by the life cycle,further empirical results show a little difference conclude.Although the internal control information disclosure can also significantly improve the quality of the audit,it is play a different degree of role at different times.The impact of internal control information disclosure on audit quality in the growth period is greater than the maturity period.And in the recession,information disclosure of internal control and audit quality had no significant correlation.Finally,according to the previous analysis and empirical results,we made some reasonable suggestions for the internal control information disclosure.Enterprises need to improve the level of internal control management,and pay attention to the quality ofinternal control information disclosure.Enterprises should improve the professional competence of internal control staff,lay the foundation for internal control construction.Government supervision departments should refine the guidelines for disclosure of internal control and improve the legal status of relevant regulations on internal control information disclosure.The public accounting firm should improve the auditor's professional competence and make appropriate reference to the internal control disclosure information during the audit process.