Study On Disclosure Of Social Insurance Financial Information

In recent years, Social Insurance is more widely in China, and the accumulation of Social Insurance funds is more and more. The huge Social Insurance funds in the regulatory aspects are constantly exposed the defects that amount of Social Insurance funds were misappropriated, so these have caused a strong majority of the public attention. Therefore, the Social Insurance financial disclosure information will become more important as one of the important conditions for the people of supervision. In the past literature, there is a lot of literature which is to study the government financial reporting and disclosure issues, and very few literatures which specifically discussed the Social Insurance financial disclosure information, and more literature which focused on the analysis of the content of the Social Insurance of financial information disclosure itself. This paper discusses some of the relevant factors affecting the Social Insurance of financial information disclosure, and use a combination of normative and empirical, and the method of deductive and inductive, and other research methods to analyze these relevant factors of the Social Insurance related financial information disclosure, to improve the Social Insurance financial disclosure information rationality, integrity, transparency and fairness, to make some recommendations accordingly.Social Insurance funds covers a very wide range that there are government departments, institutions and commercial fields, So Social Insurance accounting will involve government accounting, budget accounting and corporate accounting. This paper learns from research on corporate financial information, and argues that the Social Insurance Accounting is part of the Government Financial Accounting through analyzing the set of Social Insurance institutions, and the Social Insurance Financial Accounting, and the scope of Social Insurance financial accounting. Meanwhile, this paper compares the difference between the Social Insurance financial information reporting and the corporate financial information reporting in aspects of the Social Insurance Financial Reporting Entity, the Social Insurance sector financial reporting entity, the Social Insurance department and the needs of users of financial reporting differences, the Social Insurance departments qualitative characteristics of financial reporting information and the report projects related Social Insurance sector financial reporting. Thus complete the definition of the Social Insurance financial disclosure information.Information economics theory suggests that the situation of information symmetry is relative, and the case of asymmetric information is absolute in the Information Disclosure. To solve this problem, it is necessary to explore the information provider (the reporting entity) and the information needs of those (stakeholders) issues. After exploring the theory of information disclosure entity and foreign experience as defined in the Social Insurance finances information disclosure entity, this paper considers the Social Insurance information disclosure entity is basically Social Insurance institutions. Different levels of the Social Insurance finances information disclosure entity have different effects the Social Insurance financial information disclosures. By analyzing the current situation of the Social Insurance financial disclosure entity, and analyzing their impact on the disclosure of Social Insurance financial information, it is proposed to improve the Social Insurance agencies, to improve information systems and to improve service levels etc. These methods can optimize the Social Insurance of financial information disclosure entity.In asymmetric information theory, the information users are always in a disadvantageous position. To provide information to meet the information users, this requires to rely on the system to protect, and needs the strength of the information users. Therefore, the issues of financial information users must be studied. In Social Insurance financial information disclosure, the constitution of the Social Insurance financial information users is more complex, and those demand contents (including type and quality requirements, etc.) have different requirements. The problems of financial information requirements mainly be that the financial information management chaos, social security, the financial information is not comprehensive enough, the Social Insurance financial information quality less the requirements of the social public, the lack of the Social Insurance public service affect the demand for financial information, and the intensity of Social Insurance financial information needs are insufficient, etc. Therefore, to solve the issues of the Social Security’s financial information users required, the methods need to take into account that the setting of Social Insurance financial information needs to take into account the features of the majority number of the financial information users, it needs to provide high-quality financial information for those who require different needs, and provided the information that based on meeting the needs of supervisors, etc.To solve the problem of information asymmetry in the Social Insurance financial information disclosure, it needs to improve the system of the financial supervision of Social Insurance in China. At present, in the system of the financial supervision of Social Insurance in China, there have problems that financial supervision of Social Insurance laws and regulations are not sound, between Social Insurance financial supervision departments is not enough coordination, the Social Insurance financial supervision technology is poor, and the means of the Social Insurance financial supervision is single, etc. Therefore it need to improve the Social Insurance system of financial supervision in China by reconstructing the Social Insurance supervision system and to establish a management platform with a governance structure; improving relevant laws and regulations and to form the legal system operating environment; Coordination and supervision of various means to establish a sound Social Insurance supervision and management mechanism, etc.Meanwhile, to solve the problem of information asymmetry in the Social Insurance financial information disclosure, it needs to improve the transparency of Social Insurance financial information. The transparent of Social Insurance financial information can reduce government agencies costs, and enhance the social public to trust in government, and can be achieved to protect social justice, however, there should have some moderation to improve the Social Insurance financial information transparency. Currently, there are some problems that the previous government administration model led to lack of the transparency of financial information, the low level of the legalization of Social Insurance leading to lower financial transparency, the Inadequate and incomplete and inadequate fair of budget information disclosure financial will lead to lack of financial transparency, and unreasonable administrative system does not produce financial information transparency, etc. Therefore, it needs to establish a diversified Social Insurance financial information disclosure system, to establish a multi-level public supervision and auditing system, to establish an efficient network platform, to provide high-quality financial information to promote the financial transparency of Social Insurance information, and to establish the high-quality data standards to protect the quality of the Social Insurance financial information transparency.In this paper, empirical analysis is making on the Social Insurance transparency correlation factors based on31provincial and municipal data. The results of empirical analysis found that it is closely relationship between improving the transparency of Social Insurance information with the standard of social economic Factors indicators and living index factors. Because of some government financial information being certain state secrets in China, the transparency of Social Insurance information reasonably necessary to grasp the extent of its disclosure, also need to maintain a certain balance between the changes of the two factors, in addition to the transparent of Social Insurance information also needs to ensure implementation by a series of laws and regulations.In fact, there is a problem of fairness in the process of the Social Insurance financial information disclosure under information asymmetry. There is always a cost-effective effect on information disclosure, then there is a reasonable category about the subject, object, channels and content of the Social Insurance financial information disclosure, and should follow the principle of cost-effectiveness, and maintain fairness. By strengthening supervision, to avoid the monopoly of information and the insider trading can ensure the fairness of the process of the Social Insurance financial information disclosure; it must be required the financial disclosure process which must have minimum standards, in order to avoid the financial information produced unreasonable standard, thereby to protect the information users; it can solve coordination problems between the information channels that improving the Social Insurance sector organizations and release management capabilities; it ensures the fairness of the content of the information disclosure by establishing and improving the supervision system.