The Influence Of Internal Control Information Disclosure On The Relevance Of Accounting Information Study

Since 2012,the implementation of the listed companies in China will be officially opened the prelude to a comprehensive internal control auditing,internal control disclosure of information is an important part of enterprise information disclosure,is the enterprise according to the internal control evaluation standard for the enterprise internal control system integrity,rationality and effectiveness of the self evaluation,and in the form of a report issued by evaluation opinions,for investors to judge the value of enterprise,in order to meet the stakeholders’legitimate rights and interests of a kind of behavior.Financial fraud at enron and other firms led to the passage of the sarbanes-oxley act in 2002,moving internal controls from voluntary to mandatory disclosure.At the same time,the study of internal control issues has become the focus of discussion.Under the influence of sarbanes-oxley act,our government has also gradually established and improved the internal control system of enterprises.Since 2006,the Shanghai and Shenzhen stock exchange issued special documents require evaluation of the internal control of listed companies and to disclose,the ministry of finance,audit,the China banking regulatory commission,securities regulatory commission and the China insurance regulatory commission jointly issued in 2008 and 2010,respectively,for the enterprise internal control basic norms and the enterprise internal control supporting guidance,require submitted and listed companies to disclose internal control self assessment report.Internal control information as an important financial information,the pros and cons of information quality will directly influence the shareholders,creditors and social public sector and related main body of judgment,and affects social economic value and social value of the listed companies in the assessment and consideration.Internal control information disclosure of listed companies has increasingly become an important part of information disclosure,and gradually shows its important role to guard against financial risks.Internal control information disclosure regulation in our country has been improved substantially in recent years,but compared with the perfect internal control mechanism of abroad is still inadequate.Our country has not yet to establish a standard classification system of internal control defects,at the same time,the domestic research on internal control defects is limited.This paper probes into the Shanghai a-share listed companies internal control information disclosure status quo,on the basis of analysis and research,depth study of internal control information disclosure of accounting information value relevance.First of all,based on the existing research results,using a combination of theoretical analysis and empirical analysis on the internal control information disclosure of listed companies affect an analysis of the value relevance of accounting information.Second,such as Francis and Feltham the definition and measure of value relevance of accounting information,based on the reference Ohlson by strict mathematical deduction price model,through the relevant correction of the model to examine the strength of the accounting information value relevance.Finally,this paper on the basis of the study,from the theoretical basis,system construction,organization structure,policy,regulation and other relevant point of view,to solve current and puts forward some Suggestions to perfect the internal control.The introduction part,elaborated the selected topic background,significance and practical value,literature review and the content of the article and research methods,finally for the interpretation of the article innovation and deficiency.The second part is theoretical basis and analysis,this paper introduces the related concepts and related theory connotation,and information disclosure of internal control are analyzed theoretically and the action mechanism between the accounting information value relevance.The third part is about the internal control information disclosure status analysis,choose 2014-2014,the Shanghai a-share data related to internal control information disclosure of listed companies as samples,to get data from CSMAR database,divided into the self-assessment report of internal control,internal control defects,part three analyzes the internal control audit report.The fourth part is the empirical research on information disclosure of internal control and accounting information value relevance,choose 2014-2014,the Shanghai a-share listed companies related to the internal control disclosure of information data and relevant financial data as sample,tidal wave from the nets,CSMAR database access to data,to the stock price to be explained variable,earnings per share and net assets per share as the explained variable,add the company size and capital structure as the control variable,in the internal control information disclosure index and earnings per share and net assets per share form interactive items,to design model.The empirical results and analysis at the same time,according to the descriptive statistics,correlation analysis and multiple regression analysis of the model results,the information disclosure of internal control of accounting information value relevance of impact test.The fifth part is about research conclusion and suggestion,based on the above research,this article conclusion:(1)whether the internal control defects in a negative impact on accounting surplus information value relevance;(2)the level of guarantee of low audit opinion negative influence on accounting surplus information value relevance;(3)certified public accountants are four positive impact on the value relevance of accounting surplus information,but almost no effect on accounting information value relevance;(4)whether effective internal control of accounting information value relevance is related.And according to this article conclusion put forward the corresponding Suggestions.The innovation of this article is mainly embodied in the research content and the stage of data selection.At present our country internal control information disclosure and value relevance of accounting information research mainly concentrated in the stage of voluntary disclosure and voluntary disclosure and mandatory disclosure combined with phase.This paper choose the Shanghai a-share listed companies in 2014-2017 as sample,study in the stage of mandatory disclosure,the listed company information disclosure of internal control of accounting information value relevance,the effects of certain innovation is reflected in the stage of data selection.Entered the stage of mandatory disclosure of internal control disclosure of information,simply studies whether disclosure of internal control self assessment report,indicators such as whether to disclose the internal control audit report doesn’t make sense,therefore,in this paper,on the basis of existing research results,add more detailed internal control information disclosure index,is reflected on the content of certain innovation.