Government Audit,the Quality Of Internal Control And The Quality Of Accounting Information

Accounting information is mainly produced and served by commercial society.Accounting information mainly converts internal information in the company's operation process into external information that can be used by non-internal personnel through financial report,and the accuracy of information conversion is its main requirement.As an information system,accounting information is of irreplaceable significance for stakeholders outside the enterprise,such as investors,creditors and regulators,to understand and judge the operation and financial status of the enterprise.Central enterprises are the mainstay of the state-owned economic system and even the whole national economy in terms of quantity and scale.With the improvement of China's economic strength and the expansion of the degree of opening to the outside world,the central enterprises go abroad and go further and further,their steps are more and more steady and steady,and they undertake more and more national rejuvenation and international responsibilities.In order to maintain and strengthen China's economic advantages,it is more and more necessary for central enterprises to continuously improve their own professional technology and management level.Since 2008,the annual audit on part of state financial revenues and expenditures carried out audit and audit results are released,the audit results reflect the audited units of calendar year in accounting norms,employee benefits,pay,project investment decision-making and management and so on many problems,which involves the related management discipline violations,much plan the profits and liabilities,less meter assets such as aspects of the problem is particularly acute.Based on the event that the national audit office has selected some central enterprises to conduct financial revenue and expenditure audit and regularly announce the audit results every year since 2008,this paper selects listed companies controlled by central enterprises from 2008 to 2018 as research samples,and constructs corresponding models to carry out empirical research.The research conclusions of this paper are as follows :(1)Government audit can effectively improve the quality of accounting information of central enterprises.Government audit represents the strong independence and audit quality,through the state management activities and evaluate the legality of economic business,compliance,effectiveness and expose,adjust the unfavorable to the development of the state economic activity,can effectively alleviate the state agency conflict and asymmetric information,improve the quality of state accounting information,so as to play to safeguard national economic security,the role of the financial crisis.(2)Government audit can improve the quality of accounting information of central enterprises by improving the quality of internal control.The quality of accounting information of central enterprises is affected by many factors such as the enterprise's finance,governance and internal management.By conducting financial revenue and expenditure audit of central enterprises and regularly announcing the audit results,the audit office forces the central enterprises under audit to actively improve internal governance,prevent financial risks and improve internal control.When the internal control is improved,to a certain extent,it is beneficial for the central enterprises to create a good control environment,and at the same time,the risk is reduced,the control activities are more orderly,the information communication is more effective,the monitoring is more powerful,so as to improve the quality of the central enterprises' accounting information.(3)Compared with the first audit,the second audit of National Audit Office can effectively improve the quality of accounting information of central enterprises,that is,it has a stronger supervisory role.The second audit by the national audit office sent a more obvious message,showing that the government audit on the central enterprise management of doubt and prudent attitude.According to the research conclusion of this article,this article puts forward the following policy recommendations:(1)Establish a continuous audit system.This paper finds that in the role of government auditing in improving the quality of accounting information in central enterprises,secondary auditing has a stronger oversight role.Therefore,it is recommended that the National Audit Office actively establish a continuous auditing mechanism.At present,China's state-owned capital supervision system needs to be improved.The National Audit Office should gradually expand the audit coverage,make full use of the secondary audit's enhanced supervision function,normalize the financial revenue and expenditure audit of central enterprises,and maximize the effect of government audits on improving the quality of accounting information of central enterprises..(2)Establish a tracking rectification system.From 2008 to 2018,the Audit Office conducted a second audit of 33 central enterprises.The announcement of the audit results also involved the central enterprises' rectification of problems found in previous audits.The research in this paper confirms that the secondary audit of the National Audit Office has a stronger oversight role.Therefore,the Audit Office should make an audit decision within the scope of its duties and responsibilities during the course of the audit,require the audited central enterprise to rectify the violations and disciplines disclosed by the audit in a timely manner,and actively use the opportunity of the secondary audit to actively carry out follow-up supervision,thereby improving the audited.The quality of internal control and accounting information of central enterprises.(3)Optimize the internal control operation of central enterprises.This paper empirically tests the role of government auditing in improving the quality of accounting information in central enterprises by improving the quality of internal control.Central enterprises should actively improve the internal control system.Central enterprises should improve the governance structure and supervision system of internal control,reasonably allocate responsibilities and authorities,actively identify internal control risks and take effective measures in a timely manner,strengthen the internal governance effect of internal control,and cooperate with government audits to achieve both internal and external Supervision,promote the improvement of accounting information quality.This article innovation mainly embodied in the following aspects:(1)Currently,there are few studies on the role of government audit in influencing the quality of accounting information of central enterprises,and the research depth is limited.This paper discusses the internal control quality as an intermediary factor in this path,and further improves the research on the path of government audit affecting the quality of accounting information of central enterprises,which is not available in the existing research.(2)This paper empirically tested the impact of government audit on the quality of accounting information of central enterprises based on the event that the national audit office conducted financial revenue and expenditure audit of central enterprises from 2008 to 2018.Compared with other literatures,the sample time is further extended,and the internal control quality is selected as an intermediary variable,which provides a new perspective for the government audit to affect the quality of accounting information of central enterprises.(3)Based on the event that the national audit office carried out the financial revenue and expenditure audit of central enterprises from 2008 to 2018,this paper empirically tested the stronger supervisory role of the second audit.That is,compared with the first audit,the second audit can further improve the quality of accounting information of central enterprises.