Public Company Accounting Oversight System

Listed company has been one of the most important parts in the market of China with its great development during recent years. However, with the development of our marketing economy and security market, the phenomenon of accounting fraud and irregularity is becoming more and more common. The accounting fraud cases including Yuan Qiongmin, Hong Guang, Zheng baiwen, Yin Guangxia and so on are aroused social dissatisfaction and focus. Looking at the foreign accounting regulation, America also burst out a serial of accounting cheating cases which consist of Enron, WorldCom Inc and the century combination between American online and Time Warner. These fraud cases not only result in a big loss but also about professional ethic, economic and law system and other problems. While we should know that solving the problem of freaking accounting information cannot be a simple task but a complicated systematic project. The development of both domestic and foreign security markets have proved that regulation should play a key role. Accounting regulation as a systematic project for inner and outer corporation governance can prevent the management of company from controlling the process of accounting information's preparation and disclosure. Furthermore, it also can supervise Certified Public Accountants to do their jobs diligently then the benefits of middle and minority stock holders can be protected in farthest way and the capital market can work efficiently. Therefore, an effective accounting regulation system of listed company can have a strategic effect on solving mendacious accounting information. In a word, we should improve and consolidate listed company's accounting regulation continuously and build a efficient accounting regulation system which is adaptable to the situation of our country.The essay firstly discusses the basic theory of accounting regulation and the reason for regulation. Then the essay puts great emphasis on analyzing the situation of Chinese listed corporations' accounting regulation system from accounting regulation's aims, bodies, objects and methods. Thirdly, I use comparing research technique and choose three representative countries that are America, English and France as samples by comparing several important factors of accounting regulation system to supply the precious experiences. The essay points out the trend of accounting regulation system's reform in those countries: the regulation system is with the objective to protect the interests of investors, conducted by government and composed of professional's regulation. Fourthly, the essay discusses a special accounting regulation system to fit for our country's situation by referencing international experiences and suggests several methods help the accounting regulation system to carry into execution efficiently.