Research On Accounting Information Disclosure Of New Third Board Under Hierarchical System

In 2016 the NEEQ market formally implemented layered system, improving its institutional system and service functions. After the layered system is implemented,the transactions and regulatory system will be different in different levels, having a great impaction on the accounting information disclosure. In the same year, regulators issued an inquiry to the annual reports of 34 companies, indicating that the strengthening of market regulation, but also reflects the disclosure system there are some shortcomings.This article adopts normal research methods, analyzing how the layered system impacts the accounting information disclosure of the NEEQ market.The layered system will make the investors have a more comprehensive understanding of listed companies from its accounting information disclosure, improve the risk management of the market, and have a positive effect to the companies listing on the main board market. This article also analyses the situation of accounting information disclosure in NEEQ market,put forward the following problem, the accounting information disclosure of different are not layered, some of the disclosure regulations are not reasonable,and the supervision of disclosure is weak. The final part of the article is suggestions to improve the accounting information disclosure of the NEEQ market. We based on the layered system and the experience of the United States, Japan and Taiwan, put forward the following suggestions. Companies in different levels implement different disclosure standards. Separate the accounting information into mandatory disclosure and voluntary disclosure. Sponsored brokers must full fill the supervision obligations.