The Empirical Study On The Relationship Between Audit Committee's Characteristics And Information Disclosure Quality

In recent years, accounting fraud and information disclosure violation events frequently occur in the international and domestic. The Audit Committee which shoulders functions of auditing the quality of financial reporting and information disclosure and supervising internal control operation and other professional functions in corporate governance is increasingly concerned. So China introduced the Audit Committee System on the basis of learning from the arrangement experience of western countries for the purpose of improving corporate governance and ensuring the quality of external information disclosure and protecting the interests of the shareholders. The running effectiveness of the audit committee has become one focus in the field of theory and practice. As an emerging business sector, the small and enterprise board listed company has be running for more than ten years old since it listed in 2004. Most small and medium enterprise board listed company are relatively smaller, faster growth, strong core competitiveness, etc, which develop rapidly under the guidance of a better market environment and national policies However, accounting for a large proportion of private enterprises in the small and medium enterprise board listed companies,its corporate governance system is relatively imperfect. In addition, due to the uncertainty of operating risk,it is important to pay attention to the risks of the small and medium enterprise and its quality of information disclosure. So it is necessary to deeply analyze the operation of audit committee on the quality of information disclosure.Than this paper use the independent directors' proportion of audit committee, professional of members, the scale of audit committee members, the influence of management intervention and the diligence features to measure the operating of the audit committee and furtherly investigate the relationship between these characteristics and the quality of information. The paper empirical research part use the listed company's annual report data wich disclosured on the internet as the initial sample, use information disclosure evaluation results wich disclosed in Shen Zhen stock exchange as the dependent variable, Manual collected and compiled the independent variable data related to the audit committee characteristics.Then this paper establishes multiple regression models to examine the relationship between characteristics of the small and medium enterprise board listed company's audit committee and quality of information disclosure. Using the descriptive statistics, correlation analysis and multiple regression analysis method, the following conclusions:(1)In recent years, the quality of information disclosure from small and medium enterprise board listed company generally improved, but still need to be further improved.(2)Audit committee professional characteristics and information disclosure quality has significant positive correlation, both financial experts and the industry technical experts have a significant positive effect on the quality of information disclosure.(3) The proportion of independent directors in audit committee members and the scale of members and the quality of information disclosure show a positive correlated relationship, but is not significant influence.(4) When the audit committee members is not affected by intervention from management, independent capacity is high, has a significant influence to improve the quality of information disclosure.(5) The audit committee's diligence features have a significant positive effect on the quality information disclosure. The last part propound suggestions for effective governance of the audit committee. standardize occupational qualification of audit committee members, ensure the independence of the audit committee;Extend and improve the professionalism of the audit committee,strengthen the training;Establish incentive mechanism,improve the diligence of the audit committee;Improve the information disclosure and standard operation system on small and medium enterprise board listed company.