Property Quality,internal Control Audit And Enterprise Inefficieng Investment

In the internal control and audit has become the most of the listed companies in China under the background of mandatory action,combined with the ongoing process of reform of state-owned enterprises of mixed ownership,this paper aims at the relationship between the internal control audit quality and efficiency of investment in unlisted companies of the property of different property,thoroughly investigate whether internal control audit has an effect on improving investment the efficiency of listed companies,so as to improve our internal audit quality control.This paper first reviews the internal control audit and investment efficiency of historical documents,understand and summarize the relationship between the two,and then the definition of internal control audit,internal audit quality control and related concepts of the in-efficiency investment,through the theoretical analysis of the auditing quality of inefficiency investment enterprise’s internal control,this paper gives the assumptions.In order to make a more comprehensive and in-depth study of the relationship between the internal control audit quality and efficiency of investment in unlisted companies,the efficiency of investment in unlisted companies and inefficiency of investment into full sample,excessive investment and insufficient investment,respectively in the internal control audit opinion,accounting firm scale,internal control audit fees and earnings management as an alternative variable model the internal audit quality control by regression analysis.In order to the enterprise internal audit quality control under the different nature of property rights and enterprise investment efficiency between a more comprehensive,more in-depth research,the enterprise investment efficiency into excessive investment and inadequate investment,respectively in the internal control audit opinion,audit firm size,audit fees of internal control and earnings management as an alternative variable of audit of internal control the quality of regression analysis.In the regression analysis is divided into the full sample,positive and negative to the real earnings management,instate-owned and instate-owned listed companies,exploring different property rights nature,internal audit quality control of listed non efficiency investment difference.The main findings are as follows:1.The standard of internal control audit opinion has certain effect on governance efficiency of investment in unlisted companies,the governance effect of the random effects model is significant;correlation between accounting firm size and efficiency of investment in unlisted companies is not ideal;the internal control audit fees and listed companies excessive investment and insufficient investment is negatively related to real earnings management;and listed companies excessive investment and insufficient investment is positively related.2.According to the return of property rights According to the property of grouping regression,regression coefficient of instate-owned listed companies in the state-owned listed companies,internal control audit quality inhibition of state-owned listed companies lack of investment is better than instate-owned listed companies,internal control audit quality inhibition of non-state-owned listed companies investment is better than state-owned listed companies.Finally,according to the above conclusions the establishment of internal dynamic since the foundation,relevant suggestions were put forward from the management of listed companies and the regulatory agency level,in order to further improve the internal control system,improve the quality of audit of internal control of listed companies,so as to achieve the ultimate goal to guide the audit of listed companies investment decision-making and management efficiency the internal control.