The Study On The Internal Control Audit Information Disclosure Quality Of Listed Companies

With the Basic Standard for Enterprise Internal Control and its supportingguidelines and other regulations being released, marking the regulatory agencies makemore strict requirements on information disclosure of listed companies,especially forcross-listing companies.The Internal Control Audit Report,the Internal ControlSelf-evaluation Report，and the board of supervisors’ independent opinion about theeffectiveness of listed companies’internal control reflect company’ s internal controlaudit situation.By researching the listed companies, we know that，in the first year ofpolicy implementation,there exist poor implementation of policies,the report’s contentis not standardized and inconsistent,avoid disclosing important information,and soon.By comparing the five years’ internal control audit information,we find theinformation disclosure quality of listed companies’ internal control audit is improvingcontinuously,in addition,the format of reports is increasingly normalized.But part ofthe companies’ information disclosure quality is far from the requirements of therelevant regulations.Many scholars generally proved ownership structure was an important factor ofaffecting the quality of internal control information (Lin Zhonggao,Xu Hong,TangLiang,2009).The ownership structure determine the behavior orientation of companymanagers,and then affect the company’s internal control information disclosure, so isthat the listed companies’ information disclosure quality of internal control audit alsobe affected by ownership structure? This paper will test it through empirical analysis.Then according to the research results, and combining with the actual situation of ourcountry’s capital market, in order to make suggests about improving the informationdisclosure quality of internal control audit for listed companies and improve thecompanies’ existing ownership structure.This study is based on the Basic Standard for Enterprise Internal Control and itssupporting guidelines,we collect the internal control auditing information of A+Hlisted company from2008to2012, and draw the results from Botosan (1997) andWang Yongmei (2003),then establish the listed company information disclosurequality of internal control audit evaluation system for the first time.In this paper, themain conclusions include: the ownership structure have important influence on thelisted companies’ information disclosure quality of internal control audit.Specifically,the ownership concentration and the internal control audit information disclosure quality change in opposite directions,namely with the increasing of equityconcentration，the internal control audit information disclosure quality is lowing;theinstitution investor share is higher,the information disclosure quality of internalcontrol audit of listed companies is higher; there is no significant relationship betweensenior management share and internal control audit information disclosure quality oflisted companies;the information disclosure quality of internal control audit will beincrease or reduce with the expansion of company and increasing of per-shareearnings.