Study On The Impact Of Government Audit On The Governance Efficiency Of Central Listed Enterprises

Government audit is an immune system in the state governance system,it maintains the healthy functioning of the socio-economy.Since the Audit Commission established in the 1980 s,government auditing has been the cornerstone of national governance and important safeguards,and has promoted the functionof prevention,revealing and resisting to promote the governance mechanism.For the central enterprises,the government auditt as an external governance subject,Its involvement affects central corporate governance.Since the establishment of China's audit bulletin system in 2003.The audit process and the results of the information detailed more and more.The central enterprises and local state-owned enterprises financial revenue and expenditure,internal management,economic policy implementation and other issues can be open and transparent to inform the public.So,whether the impact of government audit on the efficiency of central enterprises is the main problem in this paper.On the basis of combing domestic and foreign research literature,the introduction of public trust economic responsibility theory as the theoretical support of this study.From the government audit intervention,function play,the results announcement,Combined with the previous study make the company operating performance is an important aspect to examine the efficiency of governance,so the company operating results used for the research entry point,selected Shanghai and Shenzhen A shares of the central enterprises listed companies in 2008-2015 as the object of the following tests:Firstly,from the government audit into the central enterprises to study its impact on the efficiency of central enterprises,and the effect of government audit intervention change or not,use empirical analysis methods,concluded that the government audit intervention will help the central enterprises listed companies governance efficiency improve.The impact of government audit on the efficiency of governance of listed companies in central enterprises has a certain lag,and the impact of government audits on the performance of central enterprises is most significant in the year after the audit team is stationed,and the significance will be weakened in the second year after the presence of the audit team.Secondly,from the government audit function to study its impact on the efficiency of central enterprises governance,the government audit function is divided into three major functions,respectively,to reveal the function,to resist the function,prevention function of empirical research,come to the conclusion of the three major government audit function help the central enterprises to improve the efficiency of governance.Thirdly,from the openness of the government audit results to study its impact on the efficiency of central enterprises,the study found that the government audit results announcement alone has helped the governance efficiency of listed companies to improve.Finally,for the conclusions of the study,from the government audit department and central enterprises to make recommendations.For the government audit department,we should strengthen the breadth and intensity of government audit,strengthen the understanding of government audit,innovate the audit means to achieve the effect of improving the audit,strengthen the government audit prevention function,increase the audit results announcement accountability and improve national audit supervision linkage mechanism.Improve the government audit transparency and timeliness of audit results announcement.For the central enterprises,the role of internal audit should be strengthened.