Ownership Structure, Independent Directors And Internal Control Verification Of Voluntary Disclosure

Internal control disclosure of information is accompanied by the worldeconomic environment changes and the development of the theory of corporategovernance and gradually developed. With the introduction of the U.S.Sarbanes-Oxley Act, Internal Control of Listed Companies Disclosure of informationin order to meet the needs of government regulators, greater emphasis on theresponsibility of management and external audit of internal control. In June2008,China’s Ministry of Finance, the Securities and Futures Commission, the AuditCommission, the CBRC, CIRC five ministries jointly issued the "basic norms ofcorporate internal control. The specification is China’s internal control specificationsystem has achieved a significant progress, which requires listed companies todisclose internal control self-evaluation report, and continue to expand the scope ofthe disclosure of listed companies, but also can be seen on the internal controldisclosure of forensic and There is no mandatory requirement. Disclosure of internalcontrol verification in the actual implementation of the process, and internal controldesign level, the implementation level there are some problems, internal controlverification can not only help enterprises to improve their internal control building,but also conducive to the regulatory authorities from outside the enterprise its internalcontrol supervision, so as to regulate the capital markets, to protect the interests ofinvestors. With the development of capital markets, stakeholders on the internalcontrol attestation engagements demand is widening.In the case of China, listed companies with weak external governance, theeffectiveness of its internal governance structure has become the important factorsthat affect internal control verification of voluntary disclosure. Determines thebehavior of orientation of the company’s management to a large extent due to thecompany’s internal governance structure, thus affecting the disclosure and to disclosethe extent of the internal control information from internal corporate governance,ownership structure, the dimensions of the Independent Director System toinvestigated the internal control the forensic voluntary disclosure and use of thecorrelation between the logistic regression test listed companies ownership structureand the characteristics of independent directors and internal control verification voluntary disclosure.In this paper, the combing of the existing research literature, proved theownership structure of the company’s internal governance structure and the factorsaffecting the disclosure of internal control attestation report of the characteristics ofindependent directors of underlying mechanisms, in order to build the company’sinternal control attestation report disclosure determinants theoretical researchframework. The article intends, through research, to explore the interaction of internalgovernance and internal control verification of the listed companies in Chinadisclosed the one hand, the understanding of internal control verification disclosed thedecision mechanism to strengthen and deepen the exploration of the mechanism ofinteraction between internal corporate governance elements, improve the companyinternal control disclosure of information and evaluation system to promote thecombination of internal and external governance of listed companies; the other hand,in order to strengthen the internal control system construction and improvement ofcorporate governance systems provide the necessary theoretical support and empiricalevidence for the protection of small investors and the interests of stakeholders withinthe specifications listed companies to control information disclosure, improve thelevel of internal governance, improve internal control disclosure system to makereasonable suggestions.