Research On HL Listed Company's Internal Control Reshaping Of Information Disclosure

The truthfulness,accuracy,completeness and timeliness of information disclosure are the cornerstones for ensuring the healthy operation of the capital market.Although the regulatory authorities continue to strengthen the supervision of information disclosure,the phenomenon of illegal disclosure or even non-disclosure of listed companies continues to occur,seriously damaging the principle of openness and fairness in the capital market and the interests of stakeholders.The frequent occurrence of information disclosure violations has also led regulators and investors to doubt whether the internal control of listed companies is effective.In-depth analysis of listed companies with information disclosure violations in China in recent years can be attributed to the failure to establish and implement effective internal control processes for information disclosure.Establishing a sound internal control system for information disclosure so that it meets both regulatory requirements and its own development,it should be to dynamically adjust the controllers'interest appeal and business requirements at different stages.From the perspective of the changes of corporate governance,studying the internal control of information disclosure is a good breakthrough.At present,scholars at home and abroad have continuously enriched and refined the research on internal control.However,there is still a gap in the research on internal control of information disclosure.Under this background,the paper studies the internal control of information disclosure based on cases.Due to problems in the internal control of information disclosure of HL listed company,a series of problems have arisen in their information disclosure.Therefore,they have been punished by the regulatory authorities,which has led to the failure to achieve the goal of information disclosure.But it has undergone bankruptcy reorganization and major asset restructuring and in the process of complex business,the control rights have changed.Meanwhile,the company's internal control has become more standardized and perfect and information disclosure has rarely violated regulations in complex business.Therefore,this paper takes the information disclosure and internal control of HL listed company as case study content.Firstly,this paper reviews the existing literature and lists the theoretical basis for information disclosure and internal control.Then,the HL listed company is divided into three stages according to the changes of property rights,and it is studied for the changes of the interests of the controlling shareholder of the company,the changes of the board of directors and the board of supervisors,and the analysis of information disclosure and internal control in order to know how to improve the internal control of information disclosure to realize the controller's interests.Finally,on the basis of the case,the driving model of internal control construction is proposed from the perspective of realizing the internal control objectives of information disclosure,which provides a certain reference value for the improvement of internal control of information disclosure for listed companies in China.Through the case analysis of HL listed company,the following conclusions are drawn:Firstly,changes in control rights will affect changes in the corporate governance environment.Due to the different interests of controlling shareholders of different natures,it will lead to changes in internal governance structure and personnel.The board of directors and the board of supervisors must not only implement the controlling shareholder's wishes but also their own reputation and interests.Therefore,there are differences in the motivations for implementing the relevant information disclosure system.Secondly,due to the different motivations of information disclosure caused by corporate governance changes,the company-level and process-level internal control construction of information disclosure will change accordingly,and the intensity of supervision and the complexity of the business will also have an impact on internal control.Thirdly,as the external regulatory environment continues to improve,the disclosure of sensitive information in accordance with regulatory rules may lead to the failure of major events.The promotion of corporate-level governance and the personal reputation of executives is a necessary condition for the implementation of internal control of corporate information disclosure.The innovation of this paper is as follows.Firstly,based on the dynamic perspective of corporate governance changes,this paper studies the internal control process of information disclosure of listed companies and how listed companies formulate internal control over information disclosure to meet regulatory requirements.And based on the corporate governance it proposes creativity the company's goal-oriented internal control driving mechanism for information;Secondly it is to try to uncover the"black box"of information disclosure decisions and internal control of listed company through single case studies.It not only summarizes and sublimates the internal control of information disclosure of case companies,but also provides reference for the regulatory authorities.