Internal Control And Audit Opinion?financial Reports

The Enron's financial scandal was revealed,the US government and market regulators conducted an analysis and thinking that the failure of internal control allows the company to operate the space,then the United States enacted the "Sarbanes Ox The history of the construction of the whole internal control system is also the turning point of the Sarbanes-Oxley Act promulgated by the United States.China's wilderness financial fraud case,Zhangjiajie financial fraud case,Zheng Baiwen incident,Yin Guangxia case caused the government and the relevant regulatory authorities attach great importance to a series of financial fraud case to the regulatory authorities aware of the importance of internal control and the development of a In line with China's specific national conditions of the internal control system.China in 2008 introduced a specific internal control for the "basic norms of internal control",the Ministry of Finance in 2010 led by the five ministries and the promulgation of the "Corporate Internal Control supporting guidelines" and the development of the relevant implementation details: January 1st,2011 from the first domestic and foreign companies listed on the implementation of January 1st,2012 in China's listed companies should also be implemented,thus,China's internal control legal system has been basically completed.This paper uses the method of combination of normative analysis and empirical analysis to study the influence of the quality of internal control on the audit opinions of financial statements and the disclosure timeliness of annual reports.First of all,the introduction part of this paper describes the background and significance of the quality of internal control,financial statements,audit opinions and the impact of corporate annual report disclosure of the factors affecting the domestic and international literature review and analysis of the literature review for the following theory Analysis and empirical test to lay the foundation.Secondly,from the theory of contract,principal-agent theory,stakeholder theory,signal transfer theory,information asymmetry theory,audit risk model and risk-shifting theory,this paper paves the way for the research hypothesis,and then select 2012-2014 China Shenzhen and Shanghai A-share listed companies as research samples,through multiple linear regression method and quantile regression method to verify the internal control audit opinion on the financial statements of audit opinion and the impact of the timeliness of the annual report.The results show that: the quality of internal control is positively correlated with the type of audit opinion of standard financial statements,and it is positively correlated with the timeliness of annual report disclosure,and used the quantile regression method to carry on the robustness analysis.The conclusion is consistent with the conclusion of ordinary least squares method.Quantile regression also further concluded that the quality of internal control on the disclosure of the timeliness of the positive correlation between the disclosure time of the enterprises more obvious.After summarizing the research of this paper,we put forward corresponding suggestions from three aspects: policy making,listed companies and accounting firms.Finally,we analyze the shortcomings of this paper and put forward the future research prospects.