Marketization,Audit Committee Independence And Quality Of Accounting Information Disclosure

The Audit Committee comes from the US,and it develops rapidly from that moment.As an important part of the corporate governance,the Audit Committee can enhance the quality of accounting information disclosure mainly through the way of strengthening the supervision and communication.By 2010,listed companies have been basically set up the Audit Committee under the board of directors in China.However,growing financial fraud could reflect that the management of audit committee is not better in recent years.The quality of accounting information is bad,and the problem of accounting information distortion is serious.How to improve the efficiency of the Audit Committee monitoring at present is an urgent problem to be solved.Scholars at home and abroad have been more focused on the Audit Committee monitoring role of accounting information.When we research the internal characteristics to affect the quality of the AC's supervision,the independence of the Audit Committee is often considered as the most important feature.However,the research on the Audit Committee independence just considered from the perspective of independent directors in the past.The scholars ignore that the Audit Committee needs to be essentially independent of the management.At present,the proportion of the independent directors in the Audit Committee is higher than before.Therefore,this paper thinks that it is more important to consider the effects of management when we study the independence of the Audit Committee.This article treats the Audit Committee independence as a breakthrough point,and discusses the different impacts of improving accounting information quality between the formal independence and the essential independence about the Audit Committee.Meanwhile,this paper regards the degree of marketing as a constraint conditions,and studies the effect of the Audit Committee essential independence to improve the quality of accounting information.Firstly,this paper reviews the relevant literature at home and abroad;secondly,this paper introduces some relevant theories about the Audit Committee,the Audit Committee system evolution,and the concept of Audit Committee independence;Finally,on the basis of theoretical analysis this article puts forward the research hypothesis.With the relevant data of SZSE from 2010 to 2012,we control the relevant variables,build a logistic regression model,and analyze the influence of the Audit Committee independence to accounting information quality in different marketing level.It draws a conclusion that the formal independence of the Audit Committee has little effect on accounting information quality,while the essential independence of the Audit Committee plays a significant role in accounting information quality.It also shows that there is a substituted relation between marketization level and Audit Committee essential independence.