The Study Of The Real Estate Listed Company Internal Control Defects

The Sarbanes-Oxley act (SOX) of the internal control disclosure of listed companies in the United States put forward strict requirements. In 2002, the United States, promulgated the Sarbanes-Oxley act for mandatory disclosure of internal control. What is internal control laws and implementation, development and implementation of internal control disclosure of the work in our country is relatively late. In June 2008, five ministries jointly issued "the enterprise internal control basic norms," specification for our country’s internal control system; In April 2010, five ministries issued a further application of enterprise internal control guidelines ", "enterprise internal control evaluation guidelines" and "enterprise internal control audit guidelines" form a complete set of guidelines to regulate the internal control system of listed companies. In the three basic norms and guidance, under the guidance and supervision of the internal control system of the basic construction specifications and requirements.According to the five ministries issued the "notice of form a complete set of guidelines issued by the enterprise internal control and classification on the main board listed companies 2012 partial implementation of the notice of the system of internal control requirements, and at the same time, the listed company and the central and local state-owned main board listed companies, should be disclosed in 2012 annual reports at the same time, the disclosure of the board of directors on the company’s internal control self assessment report and the internal control auditing reports issued by certified public accountants. Mandatory disclosure of internal control self assessment report from 2012.In this paper, the 2012-2014 real estate listed internal control self assessment report, internal control audit report to comb, and with reference to their corresponding financial report audit opinions for analysis. First carried out in accordance with the defects in the company, we can see 168 listed real estate companies in 2012-2014,82 to disclose the internal control self assessment report and the types of defects. According to disclose the cause of the defects and severity classification, find out the major defects are mainly concentrated in the accounting system is not perfect, financial risk, etc. Then control self assessment report and the comparative analysis of the internal control audit report found that internal audit and external firm as different defect standard, lead to internal control self assessment report and internal control audit report conclusion. Internal control self assessment report and financial report audit opinion contrast, found that the real estate listed companies for the imperfect information disclosure of internal control defects. According to above the status, analysis of problems existing in the disclosure of internal control defects:lack of unified defect standard, whitewash phenomenon and the information content of internal control deficiencies. Corresponding Suggestions are given:from the four major defects signs to flaws, unified internal control disclosure standards, strengthen the construction of internal control disclosure of information law, improving the investors for the disclosure of internal control awareness and encourage internal control good real estate listed company to establish a demonstration effect on three aspects to reduce the whitewash. Finally suggested that real estate enterprises focus on construction of information disclosure of internal control, perfect the disclosure of internal control defects.