The Research On Listed Company Audit Committee System

Corporate governance is one of the core problems in China economic reform. Since China economy now bases itself upon the transferring phase from planned economy to marketing economy, we shall treat the doings of listed companies objectively. On the one hand, we must admit their irrefragable performance to prompt marketing economy development in our stated owed enterprises reform, on the other hand, we shall clearly realize there are bottlenecks existing in corporate governance. In particular, the owner vacancy leading to decision-making controlled by management level may undermine many other stockholders' interest. So establishing and pushing independent director system and audit committee system is the most important strategy to improve corporate governance.This essay consists of six chapters. In the first chapter, the author gives a general discussion of audit committee system, which includes definition, developing history and its function. In the second chapter, he compares different systems in the main western countries to get conclusion, hoping to use for reference in our audit committee system construction. In the third chapter, the author probes into research on the audit committee system building theory, discusses its relationships with independent director system, supervision committee, internal and external auditing, so as to improve corporate governance. The fourth chapter remarks on the operating conditions of audit committee system through discussing property right system, law environment and inspiration strategy. The fifth chapter mainly studies the performance evaluation problem of audit committee system. The last but not the least chapter, the author emphasizes on the practical construction research such as membership admittance, organization setting up and working procedures, and also some other matching constructions like corporate culture, candidate training, etc.The innovation points in this article embody the following aspects: (1) It gives a complete and systematical research on the audit committee system construction and running from modes, function, and performance evaluation. (2) Enlightened from environment restriction theory, the author puts forward detailed running conditions for audit committee system. (3) Since the past evaluation emphasizes particularly on theration index, this article focus on if it strengthen the director board, facilitate the information publicity, monitor and control the management level, and prompt the scientific decision making. (4) Corporate culture construction has great important role on corporate resource integration, corporate identity strengthening and long-term developing strategy. The article also has elementary discussion on their correlation between audit committee system and culture construction. (5) It is a tactic thought of economy supervisor to boost the state-owned enterprises' system innovation in virtue of outside force, cross border acquisition and merge can improve the share structure of listed company efficiently, and can advance some system innovation including audit committee system, accordingly, it can speed up the construction of audit committee system.