Media Supervision, Internal Control And Audit Opinion Research

As the complex business of listed companies and the concealment of the corporate governance, auditor faces enormous audit risk. And risk-oriented audit mode of popular, make auditor in external audit work pay more attention to the judgement and prevention of risk, to get useful information from all parties to become the inevitable choice of auditors. And the media supervision, as a kind of informal mechanisms, transfer useful information in the form of information exposure, its governance function also received preliminary approval. Information in the new market environment, the diversification of media changed the way the use of information market, reshape the auditor information environment and the external constraint environment, the specific performance in the media reports related to the enterprise whether can truly reflect the financial position of the enterprise, thus influence the auditor to the audit risk judgment, will affect the audit opinions. Especially the media supervision and external audit behavior as a kind of external supervision mechanism, and how effectively the role of enterprise behavior of corporate governance, the theory has not put forward a relatively clear implementation of the path. Under the new information environment and the external constraints, media supervision, how to influence audit opinion published study has practical significance.In recent years, with the "enterprise internal control basic norms", "internal control evaluation guidelines" and related guidelines, issued by the government regulatory level to value from the perspective of internal control evaluation to guide the improvement of corporate governance, which makes the range of the external audit in our country from a pure financial audit extension for financial audit and internal control audit, this is not only the expansion of the external audit evaluation system in China, also more in line with the requirements for public understanding of the company's internal management, in the process of auditing opinions issued by the auditor, higher degree of reliance on internal control running status. Information and media reports also reflects the quality of the internal control. This article discussed from the point of view of internal governance of media supervision and governance role of the audit opinion, and analyzes the governance effect of implementation path. In China's Shanghai and Shenzhen two city from 2009 to 2014 a-share listed companies as the research object, the inspection results show that the media supervision significantly influence the audit opinions, and this effect is that by joining the internal control elements. Further analysis found that media reports, the more the worse quality, internal control and auditors tend to issue a non-standard audit opinion; For a serious negative coverage in nature, in-depth reporting and tracking reports, management would prefer the major defects of internal control disclosure, but management to improve internal control will not obvious, and the auditor issue more probability of non-standard audit opinions; Only in the basic show that negative media reports reflect the quality of internal control will have obvious governance effects on audit opinion, and this effect can be done by different routes.In this paper, the transmission mechanism for internal control, with the governance functions of media supervision as the starting point, emphatically analyzed influence on the audit opinion, innovation is embodied in the following:(1) to reveal the relationship between media supervision and internal control and audit opinion of narrating theory. In media, interactive model was constructed on the basis of the media in media reported a negative number, the depth of the negative reports are widely degrees, negative media reports and the severity of the negative media reports on behalf of the effect of media supervision, through affecting the disclosure of internal control index, the defect motivations, contents and the improvement measures of disclosure so as to adjust the auditor audit risk, and further affect the audit opinions. Of 16 kinds of realization of building, from the Angle of internal governance, clear the relationship between the media supervision and conduction of audit reports, and its role in governance, further proves the media mainly reflect the internal control.(2) to verify the media supervision, internal control and audit opinion path to achieve process. By using multiple regression and path analysis of structural equation model to verify a progressive transformation of the media supervision and audit opinion. With multiple regression method in empirical verify the correlation of media supervision and internal control and the correlation between internal control and audit opinions; Finally using the path analysis method of structural equation model, through the 16 path validation, proved in this paper, the establishment of the assumptions. Through the empirical results found that the media supervision, the path of the realization of the internal control and audit opinion article 11 effective path. Negative media reports, the more reflect the internal control quality index is lower and it's easy to have a significant internal control defects, lead to the auditor issue of non-standard audit opinions; For negative media reports tracking reports, in-depth reporting and serious, reflects the internal control index is lower, the management will be to active disclosure of internal control, increase the possibility of a company. Major defects, issued by the auditor in accordance with the above situation, on the other hand, tend to non-standard audit opinions; Study also found that reported in either way, the management to improve internal control defects are not obvious, and the auditor will not issue a non-standard audit opinion.(3)Is proposed based on path analysis of media supervision and internal control related Suggestions. In media supervision Suggestions, in order to "regulatory-guide-specifications" trinity Angle of the media industry to strengthen self-discipline; Guide the orderly positive coverage; Exploratory established media industry norms, and exert the influence of the media. The Suggestions to the internal control to the risk management framework (ERM) as the evaluation standard, in fully consider the influence of the media information dissemination and the auditor, on the basis of risk assessment process, respectively to the framework, eight elements have operational risk prevention advice; Exploratory formulated the related standard of internal control defects, prompted the company pay attention to the disclosure of internal control defects and defect improvement measures.