A Study On The Impact Of Audit Committee Of Listed Companies On Corporate Value

Since 1944,the audit committee has existed for more than half a century,with accumulating a wealth of experience in institution setting up and functioning.It has become an important part of governance structure of the company,effectively preventing the false disclosure,financial fraud and fraud case and therefore produce the favourable influence on the enterprise value.At the beginning of 2002,the "corporate governance guidelines" was issued by China Securities Regulatory Commission and the State Economic and Trade Commission jointly issued,recommending that listed companies the audit committee can be set up in the Board of directors of listed companies in accordance with the relevant decisions of the general meeting of shareholders in 2008,the "basic norms of internal control" in the mandatory requirements of enterprises in the establishment of the audit committee under the board of directors,from now on,most of the listed companies have set up the audit committee to participate in corporate governance.But because of my country for the audit committee system research and implementation started late,causing the establishment and operation of our audit committee still have many defects that are not recognized and improved,making the audit committee failed to give full play to its value-added role.Therefore,how to influence the value of the company and the audit committee in its institutional arrangement is the value of the company have a substantial impact from all walks of life become more and more concerned about the problem of practice,it is very important and far-reaching significance in further research of Audit Committee of Chinese enterprises on the value of the company.This paper summarizes the main features of the audit committee of listed companies,taking the Shanghai and Shenzhen's manufacturing enterprises as the research sample,in order to check the influence of the characteristics of the audit committee of the value of the enterprise by empirical analysis,the study found that the audit committee size,diligence,professionalism,independence and the frequency of independent directors has a significant impact on the company's value;Secondly,A study is carried out on the case of A company,mainly analyzes the current situation of the audit committee of A,the change trend of compa ny's enterprise value since A listed and analyzes the weakening situation about the functions of the audit committee.finally,combined with the results of empirical research and case studies,itis proposed to strengthen the improvement measures for the Audit Committee,aimed to enable it to really play a valuable value-added function of auditing.Through the combination of empirical and case studies in this paper,it can help provide some reference and basis for the establishment and operation of the audit committee and A company of listed companies in China.