Analysis On The Dispute Of The Abolition Of IPO Audit System In China

IPO (Initial Public Offering) is the abbreviation for Initial Public offerings, refers to the enterprise through the stock exchange Initial Public issuance of shares to investors, in order to raise development fund which is used in the process of enterprise. Securities issuance auditing system is the supervision of securities issuance management which is one of the most important content, its purpose is to prevent toxic securities into the market, protect the interests of investors, also keep the securities market with high quality and high efficiency. Registration and authorization system are the two kinds of the main way of securities issuance auditing system, therefore, the thorough analysis research connotation, difference and applicability of the securities market consciousness and stability of great significance. However in recent years, China’s IPO, a mess growing "Lv dadi""Xin dadi" abused companies getting the IPO success, but the performance decline rapidly, seriously harm the interests of investors, meanwhile impact the healthy and stability of the securities market in China, constantly touches the masses of people sensitive nerve.the "three highs"(high p/e ratio, high raise, high price) of IPO phenomenon, after IPO, those companies frequently turn the face, power rent-seeking, the securities regulatory body and a series of problems emerged gradually, they even have the intensified trend. More and more people put the arrow points to the IPO audit system, and from all walks of life to abolish the authorization, launch US-style IPO registration.system of discussion and also called for. Famous independent economist Andy Xie indicated in an interview that China’s securities market, must not used listed system in China, as long as use this system, this market will be terrible forever, it is must be the registration system.This article analysis the historical change of securities issuance auditing system in China and the authorization and registration system, the comparative analysis of the problems existed in the IPO audit system in China, then puts forward the corresponding solutions. The paper except the introduction and the conclusion consists of four parts:The first part mainly is the IPO audit system overview, and the authorization and registration system for comparative analysis.The second part elaborated the evolution of securities issuance auditing system in China history, and under the authorization of IPO in our country at present faced the reality of the problem The third part according to our country’s current actual express the author of the controversial views.The fourth part for IPO audit system is the cause of many problems in our country, this chapter puts forward some concrete proposals to reform perfect.