Heterogeneity Financial Background Of Independent Directors,the Internal Control Audit Opinion And Quality Of Accounting Information

In January 1,2006, the "company law" clearly provides that the listing Corporation in the board of directors must set up independent directors, this is the first time confirmed the importance of the legal aspects of independent directors. From a series of policies and regulations in recent years on the development of the independent directors, we can see the government for the independent director system in hopes that independent directors can improve the situation of our corporate governance. The performance of duties of the independent director in our country is not optimistic, it appears that independent directors in the corporate financial scandals often can see the figure of the financial industry experts.So what financial background independent directors impact on internal control audit opinion?This paper adopts the progressive layers of research ideas, first study the different impact of financial background independent director and its division----the Academic and Practice different effects on the internal control audit opinion,obtained by theoretical analysis college party reputation cherish and remuneration for independent directors value, prompting it to better carry out its oversight functions, improve internal control status, thereby helping to obtain the views of the internal control standards.While the practice of financial background independent director in practical ability and work experience, but because of the negative influence of the dereliction of duty is relatively weak, the work of the busy also lead to the lack of supervision, practice may be more with their own "anti audit" ability and the "opinions" bargaining power, to help companies get standard internal control audit opinion.To improve the quality of accounting information is an important manifestation of the financial background of the independent directors to perform their duties, so in order to verify of two types of financial background of the independent directors by truly fulfill the supervision function to improve the internal control audit opinion,I further research the effect of financial background of independent directors on the quality of accounting information.In the empirical research part, through querying CSMAR database, this paper selects the 2011-2013 shares of the Shanghai and Shenzhen A-share non-financial enterprises as a sample, and I collect and finish subdivision about the background of independent directors manually. By comparing the different methods, this paper uses the modified Jones model to calculate the manipulation of the DA as an alternative variable of accounting information quality.After the empirical research, I draw the following conclusions:(1)The number of independent directors in the financial background is more likely to make the company obtain a standard internal control audit opinion. And relative to the Institute, the practice of the financial background of the independent directors and internal control standards of the audit report is more significant.(2) The relationship between the independent director and the quality of the accounting information is also proved to have the difference between the school and the practical affairs. The empirical results show that the higher the proportion of independent directors, the better the quality of accounting information. And relative to the practical school, the proportion of independent directors and the proportion of the financial background of the university has a stronger positive correlation with the quality of the accounting information of the company. Better accounting information quality shows that the independent director of the Institute of finance background can perform the supervisory function with good performance and obtain the standard audit opinion by improving the internal control.Finally based on the above research, from improving the selection of independent directors mechanism formulated independent directors assessment methods and incentive and restraint mechanisms put forward suggestions for improvement. The contribution of this paper is to refine the classification of the financial background of the independent directors, and further study the differences between the independent directors and the independent directors in the internal control audit opinion.