A Research On Accounting Information Disclosure Of Financial Innovation Business

As financial innovation business in commercial banks becomes more and morepopular, financial innovation business which has characteristics like integration,network technology and easy to imitation not only brings the profits for commercialbanks, but also carries risks. While the phenomenon of domestic commercial banksonly care about innovation, ignore the management is seriously, the risk happened inthe process of the business has increased. And effective supervisory measures havenot built for the financial innovation business, so how to reduce the risk of financialinnovation business in commercial banks is prove to be the most urgent problem.Based on theories and achievements about commercial bank innovation businessand accounting information disclosure, and also the current situation of the financialinnovation business in the bank, the article studies the problems of accountinginformation disclosure in these businesses.Article selects five financial innovation businesses which are widely practiced inour commercial banks and analysis the risk, according to the disclosure of thesebusinesses that published in3years’ annual report, finding the problems incommercial bank accounting information disclosure. Such as accounting informationdisclosure is not uniform in content and form, our standards is different frominternational standards, poor correlation and low disclosure level. These problems notonly reduce the information comparability between commercial banks, but also can’tsatisfy external users’information needs.Unperfect information disclosure system is the fundamental cause of theproblems, the innovation is the direct cause of the problem, in addition informationusers’ poor demand and commercial banks’ poor management will also bring out theproblem of incomplete accounting information disclosure content. For these reasons,the article think we should be unified the accounting information disclosure standards firstly, strengthen communication between the supervisory authorities and uniformaccounting framework. Second, we must update the concept of accounting internalcontrol, treat financial innovation as the core idea and establish a internal controlsystem that can cover the whole operating processes and position. Third, enrich thecontent of accounting information disclosure, including non-financial and financialinformation. Last, combined with some standards released by Basel Committee onBanking Supervision and Administration Commission, we can improve the riskinformation disclosure.