Accounting Information Disclosure Research On The Third-board Market

In December 13, 2013,the State Council made it clear that the service cope of the third-board expanded to the whole country and become a national securities trading place, The move is not only an important step in the construction of our multi-level capital market system process forward, but also the sign of the OTC market entering the period of accelerated development. In a few short years of expansion to the whole country, the number of the listed enterprise has showed the explosive growth. At the same time, accounting information disclosure issues of the third-board have continued to increase, which have attracted much attention and made a serious influence on the healthy operation of the marketIn this paper, the author mainly use normative research method to study accounting information disclosure of the third-board, in order to discover the problems that the market exists, and to find the cause of the problem, and then put forward the improvement suggestions.The first chapter is the introduction. The second chapter is mainly about the third-board market, theoretical basis of accounting information disclosure of the third-board, new requirements of accounting information disclosure under the background of layered design of the third-board. In the third chapter, first of all, the author investigated accounting information disclosure system of the third-board and the situation of listedenterprisetofulfill the information disclosure obligations, put forward accounting information disclosure issues of the third-board: from the system level, it’s not reasonable that current accounting information disclosure system of the third-board use the same standard for all the listed enterprises; from a practical perspective, accounting information disclosure of the listed enterprise is incomplete, inaccurate, untrue, not timely. Fatherly, the author analyzed the above two questions, got the reasons: the third-board is lack of multi-level information disclosure standard; internal governance of the listed enterprise is not perfect; the external supervision is insufficient. In the fourth chapter, the author made a comparative analysis of Chinese Taiwan and the US about accounting information disclosure system of OTC market, and got the inspiration to perfect accounting information disclosure system of the third-board market:develop a multi-level information disclosure standards; give full consideration to the special nature of the listed enterprise; give full play to the role of self-regulation and voluntary disclosure. In the fifth chapter,on the basis of the above chapters, the authorpresentedseveralsuggestions to accounting information disclosure of the third-board: from the system level,design accounting information disclosure standards of the third-board hierarchically, insist on the combination of mandatory information disclosure and voluntary information disclosure; from the market participants,improve the governance structure of the listed enterprise, play the role of the board brokerage’s continuous supervision,strengthenregulatory agencies’ supervision.