The Research On Influence Of Audit Committee Features On Quality Of Information Disclosure

In the listed companies in western countries such as Britain and the United States and so on, the audit committee system has been proved to be effective institutional arrangement to protect the interests of the shareholders. The audit committee plays an important role in improving the listed company governance and ensuring the quality of financial information disclosure of listed company. Therefore, some scholars have described the image of the audit committee as "the most stable keeper to protect the public person". On January7,2002, China Securities Regulatory Commission and The former State Economic and Trade Commission jointly issued<Listed Companies Governance Detailed Rules>,<Rules>regulation:In accordance with the relevant resolutions of the general meeting of shareholders, the board of directors of the listed company may set up the audit, nomination, remuneration and appraisal committee.<Rules> defines the responsibilities of the audit committee further. The audit system is a major measure for perfecting corporate governance structure after the introduction of the board of supervisors system. Based on main board listed companies which is released the results of information evaluation in the Shenzhen Stock Exchange as the basic research samples from2009to2011,this paper empirically tests the influence of audit committee features on quality of information disclosure of listed companies by building the multiple linear regression model. The research conclusion points out that the greater the proportion of audit committee in the accounting experts and the more audit committee meeting, there will be a higher quality of information disclosure of listed companies which the test of significance; the authority of the audit committee can ensure the quality of the information disclosure of listed companies, that is if audit committee in the listed companies who have the right to hire and replace external auditors can nominate or appoint head of internal audit institutions and lead the work of internal audit department, the quality of the information disclosure of listed companies will be significantly improved; the scale of the audit committee is positively correlated relationship with the quality of the information disclosure of listed companies, but it is not through the test of significance; contrary to expectation, the proportion of independent directors in audit committee members and the quality of the information disclosure of listed companies show a negative correlated relationship, but it is not through the test of significance, which suggests that there is no obvious linear relationship between the scale of the audit committee and the quality of the information disclosure of listed companies and there is no obvious linear relationship between the proportion of independent directors in audit committee members and the quality of the information disclosure of listed companies. Finally, this paper puts forward outlook according to the research conclusion.