Research On Internal Control Information Disclosure Of The Original Small And Medium Sized Board After The Merger Of Shenzhen Stock Market Main Board And Small And Medium Sized Board

As an important bridge between "investors" and "financiers" in the capital market,the issue of information disclosure has always been taken seriously.High quality information disclosure not only helps to reduce information asymmetry,but also ensures the rights and interests of investors.If the capital market is flooded with information of low quality,investors may make incorrect decisions because they cannot correctly understand the market situation,resulting in ineffective operation of the capital market and ineffective resource allocation of the capital market.On March 19,2021,the Ministry of Finance and the China Securities Regulatory Commission issued the Notice on the Implementation of the Internal Control Standard System by the Original Listed Companies of the Main Board of the Shenzhen Stock Exchange and the Small and Medium-sized Board(No.3,2021),which put forward new requirements for the disclosure of internal control information of the listed companies on the original small and medium-sized board.Although the academic community has conducted relatively in-depth research on the internal control information disclosure of listed companies,more analysis is conducted around the main board and the growth enterprise board,and relatively few studies have been conducted on the internal control information disclosure of small and medium-sized board listed companies.Therefore,this paper selects Xinlun New Materials as the research object,and through in-depth analysis of the changes in the internal control information disclosure status,existing problems,and reasons of new fiber and new materials companies,it proposes more targeted and operable improvement measures.This paper adopts the statistical analysis method,case,analysis method,literature research method,with the internal control information disclosure content of Xinlun New Materials as the research object,deeply analyzes the current situation of the internal control information disclosure,the existing problems and the causes of the problems,and finally obtains the research conclusions and suggestions.Firstly,paper reviews the general situation of Xinlun New Materials Company,and then analyzes the status quo of internal control information disclosure of Xinlun New Materials from both before and after the merger,and summarizes the existing problems.Secondly,this paper analyzes the causes of internal control information disclosure from the policy,regulatory and governance levels.Finally,from the report to improve the content,improve the level of supervision and strengthen corporate governance in three areas to make recommendations.This paper found that: first,the Xinlun New Materials is in accordance with the guidelines and specifications regular disclosure and internal control report,disclosure scope is comprehensive,but the management internal control information disclosure consciousness,the independent directors and board of supervisors did not to perform their duties.Second,the internal control information disclosure of Xinlun New Materials actually has problems such as untrue information disclosure,formalized disclosure and inadequate disclosure of internal control defects.Third,Xinlun New Materials internal control information disclosure problems,is caused by a number of reasons.To sum up,in order to protect the healthy development of the market and better play the role of the multi-level capital market in rationally allocating market resources,this paper suggests that the development of internal control information disclosure should be improved from four aspects: strengthening corporate understanding,strengthening corporate governance,improving the report content and improving the level of supervision.