The Research On Governance Effect Of Audit In State Holding Listed Company

In 2007, the U.S. sub-prime mortgage crisis triggered the global financialcrisis,had brought enormous impingement to the whole world economy. Manyscholars to actively reflect on the deep-seated reason of the crisis and found that thefailure of corporate governance is one of the root causes of. In the development ofcorporate governance has a long history of the United States, its listed companies stillneed to face a lot of loopholes in corporate governance. In contrast, for China's stateholding listed companies, their corporate governance effects of play, are facing moreserious and complex corporate governance environment's challenges. How to betterimprove their corporate governance mechanisms and give full play to their corporategovernance effects, especially the effects of the Audit Committee of governance hasbecome a pressing and urgent need in-depth study of the proposition.As we all know, as early as 2002, the United States promulgated the"Sarbanes-Oxley Act" (hereinafter referred to as "Sarbanes-Oxley Act"), the aim is toenhance the governance effects of the Audit Committee and to further improve thecorporate governance mechanisms in order to prevent financial fraud Recurrence. Asthe "Sarbanes-Oxley Act" transfer many important power to the Audit Committee tocarry out that, the emphasis of improved the governance effectiveness of the AuditCommittee has been elevated to an unprecedented height. Therefore, the author to"China's state holding listed company's audit committee governance effects"as amaster's degree thesis research proposition,to fully understand the "property" and"control" has an important impact to origin analysis of the Audit Committee system,and focus on the research of state holding listed company's audit committeegovernance effectiveness, in order to make up for "today's research literature on thisdoes not seem to give sufficient concern "deficiency.In this paper, I have used the combining research method of normative researchmethod and empirical research method. The research ideas are as follows: First,reviewed the audit committee system in the worldwide development process,elaborated the important position of Audit Commission in the corporate governance,noted that the research on the governance effects of the Audit Committee haveimportant effect to promoting the development of corporate governance mechanisms. And on the basis of combing the china's Audit Committee system of development process and the china's state holding listed companies of special governance background ,to determine the object of study in this paper shall be state holding listed company's audit committee governance effectiveness; Second, the system described state holding listed company's audit committee governance theory, to build a state holding listed company's audit committee governance theoretical framework and developing research governance theory of its sub-items, these include: financial reporting of governance Quality theory, "internal control" issues of governance theory and the theory of the external audit opinion on the management of three parts; Third, I chose to do empirical analysis in these two aspects : the quality of financial reporting governance and "internal control" issues of governance , in order to provide empirical evidence to improved the state holding listed company's audit committee these two effectiveness of governance; Finally, combined theoretical research and empirical analysis of this paper put forward to further establish and improve China's state holding listed company's audit committee system of policy recommendations.This study includes Introduction, body, and research findings and follow-up study recommended that the three parts of a total of six chapters.The first part, that is, Chapter 1, Introduction. This study focuses on the research of background and meaning,innovations,research ideas,methods,structural framework,overview of domestic and overseas research .The second part, body parts, is also the core content of this article, including Chapter 2 - Chapter 5, a total of four chapters.Chapter 2, the Audit Committee System and Corporate Governance. First, reviewed the audit committee system in the worldwide development process, elaborated the important position of Audit Commission in the corporate governance, noted that the research on the governance effects of the Audit Committee have important effect to promoting the development of corporate governance mechanisms. And on the basis of combing the china's Audit Committee system of development process and the china's state holding listed companies of special governance background ,to determine the object of study in this paper shall be state holding listed company's audit committee governance effectiveness;Chapter 3, state holding listed company's audit committee governance theoretical analysis. This chapter system describes the state holding listed company's audit committee governance theory. Firstly, I made a clear definition of the concept of "efficiency" and "effect", pointing out that the object of this study is the state holding listed company's audit committee "governance effects"; Second, to build a state holding listed company's audit committee governance theoretical framework and developing research governance theory of its sub-items, these include: financial reporting of governance Quality theory, "internal control" issues of governance theory and the theory of the external audit opinion on the management of three parts;Chapter 4, state holding listed company's audit committee sub-Empirical Analysis of governance effects. In this chapter, I chose to do empirical analysis in these two aspects: the quality of financial reporting governance and "internal control" issues of governance. Through revealed its governance of effective in both the important aspect, from the side answers the question of China's state holding listed company's audit committee the whole level of governance in recent years. And reveals the Audit Committee of governance-related factors, including favorable and unfavorable factors, thereby, To improve the operation of the Audit Committee and to improve the it's effectiveness of governance to provide valuable empirical data.Chapter 5, establish and improve China's state holding listed company's audit committee system of policy recommendations. Combining of theoretical research and empirical analysis, this chapter proposed the relevant policy recommendations on how to establish and improve China's state holding listed companies Audit committee system, Including legal mechanisms, functions and mechanism as well as on the incentive mechanism of the proposed. Intended to cause the relevant departments as well as the state holding listed companies'great attention to the problems of the building process of Audit Committee, and implementation of practical measures as soon as possible, to promote the development of state holding listed company's audit committee.The third part, this is, Chapter 6 to study the main conclusions and follow-up innovations in research proposals. This chapter summarizes the main conclusions of this study and innovations, and based on the limitations of this study, proposed the follow-up study recommendations.Innovations of this article are mainly reflected in the following two aspects:1.Established the proposition of systematic study of state holding listed company's audit committee governance effectiveness.In this paper, fully understand the "property" and "control" has an important impact to origin analysis of the Audit Committee system, established the proposition of systematic study of state holding listed company's audit committee governance effectiveness. Full analysis the institutional environment which restricting the Audit Committee to play it's governance effect ,and also providing a institutional level annotations for the practical governance effectiveness of the Audit Committee, to make up for shortcomings in previous studies.2. Initially constructed the theoretical framework of state holding listed company's audit committee governance.1) This paper from the relationship that exists between the Audit Committee and the core of governance-related parties, such as the internal audit staff, management supervisors and external auditors as the start, to the Audit Committee in the quality of financial reporting governance, "internal control" issues of governance, as well as external audit advice of governance as the main content and Prospect its possible governance effectiveness, initially constructed the theoretical framework of state holding listed company's audit committee governance, for future research in this area to expand the research path and ideas, and played a role in attracting valuable opinions.2) Highlights the study perspective, which the Audit Committee in "internal control" issues of governance effectiveness. Domestic about Audit Committee in the "internal control" issues study of governance effectiveness is still cutting-edge. In the previous study, pairs of the "internal control" issues study of governance effectiveness , mostly stay in the board of governance level,very little depth to the Audit Committee of governance level. However, the Audit Committee as the one of the most important committee of the board, it has become an important complement mechanism of board. In many areas , it is demonstrated its governance effectiveness ,especially demonstrated "Internal control" issues of governance effectiveness is very worthy of in-depth study. In this paper, starting from the Audit Committee of Governance level on, highlights the study perspective, which the Audit Committee in "internal control" issues of governance effectiveness, in this area, for improve the Governance effectiveness of the Audit Committee, provides a solid theoretical foundation and valuable empirical evidence.