Research On Internal Control Material Information Disclosure About Food Industry

In recent years, more and more people realize the importance of internal control effectiveness and information transparency, therefore the "Sarbanes Oxley act" issued, it established a model for all the other countries to build their own internal control rules, China is also aware of the importance of internal control disclosure, therefore the "basic norms of internal control" and "supporting internal control guidelines" and other relevant laws regulations are enacted in2008. However, due to its characteristics of different industry, they have different emphasis of internal control and on December26,2013the Shanghai securities and futures commission issued "the guidelines of divided listed company’s operating information disclosure", this guidelines encourage government to establish divided information disclosure system, besides a series of food safety incidents for example the Shuanghui lean meat issue and the Sanquan bacteria scandal caused public discontent, so the food industry as a key area in our country, the problems lie in the disclosure of internal control information is the subject we will discuss in this paper.My paper is going to develop as follows:firstly, analyzing the disclosure of internal control information in theory. In this part, we mainly analysis the relationship between internal control disclosure and the theory of the principle-agent theory> Signaling Effect theory^information asymmetry theory、 efficient market hypothesis. Then, in order to analyze my questions, we chose2011-2013listed companies as the study sample, we analyze four aspects of this problem includes the carrier^the overall situation of disclosue、Internal control evaluation report and Internal control audit report. We found that, the carries are different from each other, companies can’t disclose their information timely and completely, furthermore the evaluation basis is not in accordance and so on. Finally, in order to solve the problems we have found, I give some advice from the aspect of perfecting the corporate governance structure, improving the information disclosure system, clearing the main responsibility, strengthening the supervision and so on.