The Research Of The Relation Between Independent Director System And Audit Opinion

On August 16th 2001,the China Securities Regulatory Commission promulgated《The guidance opinions about the listed companies establish the independent director system in China》,which marked the independent director system put into practice formally in China. The main purpose is to make full use of independent directors to determine the advantages of an independent and impartial,avoiding damage to the interests of the small and medium-sized shareholders, maintaining the company's overall interests, and find the solution to listed companies "internal control "problem at last in China. However, according to the independent director system in recent years, some listed companies' accounting information has been seriously distorted,the phenomenon of earnings management is very serious, Independent director system failed to make a full use of. Independent directors are often labeled "vase" and the status of independent directors has also been a seriously challenged. Independent director system is an important component of corporate governance, and external governance audit is an important guarantee for the company. Therefore, the research of the relation between independent director system and audit opinion made the great significance on providing empirical evidence and theoretical support to the corporate governance of listed companies.In this paper,from the perspective of audit opinion which is made by certified public accountants, taking the dates from 2007-2008 of 2118 A-share listed cimpany as simple. Selecting the proportion of independent directors, independent directors annual salary,and take the type of audit opinion from certified public accountants as the dependent variable to construct model,using Logistic regression analysis empirically test all factors of the system of independent directors of China's listed companies,which have been issued to the audit opinion.Coming to the conclusion that:the independent director system and the non-standard audit opinions have certain correlations. The higher the proportion of independent directors, the greate the company received an unqualified audit opinion on the standard, Independent directors annual salary has a significant impact on the standard unqualified audit opinion. Independent director system will help China to improve the corporate governance structure reforms actively,improving the listed companies'internal and external oversight mechanisms, the independent director system could play its positive role in China.