Research On Internal Control Information Disclosure Of CITIC Securities

As China's social economy enters a "new era," China's securities industry is also facing new opportunities and challenges.The report of the 19 th National Congress of the Communist Party of China clearly pointed out that "the ability to enhance the integration of capital markets into national strategies and the ability to serve the real economy","improve the proportion of direct financing,and promote the healthy development of multi-level capital markets",pointed out the direction for China's securities industry to serve the real economy.Under the strong guidance and supervision of the China Securities Regulatory Commission,China's securities companies can accept basic supervision and control,however,in the process of development,there are also some illegal events caused by imperfect internal control and incomplete disclosure of internal control information,these illegal incidents have a serious negative impact on China's macro economy,market mechanism and corporate financing.Although CITIC Securities Company Limited is a leading company in the domestic securities industry,on August 25,2015,Xu Gang,general manager of CITIC Securities Company Limited,and eight other persons suspected of engaging in illegal securities trading activities were asked by the public security organs to assist in the investigation.Not only has it caused a huge impact on China's securities industry,but also led to a decline in the credibility of the securities industry,but also it has also revealed that China's securities industry,including CITIC Securities,has serious defects in the construction of internal control systems.Based on the above analysis,under the specific background of China's "Basic Standards for Internal Control of Enterprises" and the specific guidance of the spirit of the 19 th Party Congress,first of all,this paper takes CITIC Securities Company Limited.as the research object and selects CITIC Securities Company Limited for2013-2017.Based on the internal control system construction and information related to internal control information disclosure,the principal-agent theory and signal transmission theory are applied to the research of this paper to discover the problems existing in the internal control system of CITIC Securities Company Limited,and then apply the research conclusions to China's securities.The company's internal control system has been upgraded.Then,in the analysis of the internal control audit report of CITIC Securities Company Limited,the internal factors affecting the internal control quality of CITIC Securities Company Limited were identified from the endogenousinfluencing factors of the internal control of CITIC Securities Company Limited and the external environment,and corresponding policies were proposed to improve the quality of internal control information disclosure of CITIC Securities.