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Accounting Information Disclosure of Listed Company and Countermeasures

Author: ZuoZuoLe XieZuo From: www.yourpaper.net Posted: 2010-03-05 16:33:57 Read:
Abstract: accounting information disclosure of listed companies in China, there are many problems, even posted by the relevant agencies to regulate and implement a series of laws, rules, accounting information disclosure of listed companies remained despite repeated prohibitions. In this paper, some research on issues of accounting information disclosure of listed companies exist.
Keywords: accounting information of listed companies disclose

Listed companies is the cornerstone of the securities market, plays an important role in the stock market, the main object of the regulation of the securities market accounting. Timely, true, full, fair listed companies must fulfill obligations to disclose information that could affect investors' decisions to the majority of investors. China's listed companies, however, there is a serious problem in the accounting information disclosed, these issues need to reveal, analyze and solve.


On Accounting Information Disclosure of Listed Companies in China

A lack of authenticity
Listed companies, whitewash the financial statements in order to improve the results of operations, information disclosure untrue. Some listed companies in order to achieve the company's stock market, affect the stock price of the company and management performance evaluation or financing convenience purposes, often take the manipulation, fraud, and even colluded with unscrupulous CPA has issued a false audit report, the disclosure of false accounting information. First some listed companies prior to listing prospectus excessive packaging, material misstatements of financial reports, listing of qualifications obtained through rent-seeking behavior; serious false statements and profit manipulation.
2. Lack of full
Too much virtual assets in the balance sheet of the listed companies, so that the information disclosed is not sufficient. Corresponding to some listed companies disclosed information for full disclosure, but take evasive tactics the deliberately exaggerated some of the facts, to hide some of the facts, mislead investors, and even non-disclosure of some of the major events.
3. Lack of timeliness
Reveal the unknown risk of listed companies, information disclosure is not timely. Accounting information if you can not at some point in time to the public, the result of insider trading is likely to cause damage to the interests of investors. Most companies in the event of the acquisition of significant debt and investment projects to change the investment schedule is not the original plan, equity restructuring, changes in management personnel, not disclosed to the public. After Notwithstanding the public report, but has the passage of time, or even be misleading to investors.

Second, the issues of accounting information disclosure of listed companies in China cause analysis

A company driven by the interests of the root causes that lead to disclosure of accounting information
Numerous information disclosure violations listed companies, the number of companies based on the purpose of the packaging market, or to use a variety of means of inflated profits, or making false documents or false statements publishing misleading information; addition, listed companies currency funding needs is continued, in order to obtain the rights issue in order to achieve the purpose of the expansion, often at packaging accounting data, the disclosure of false information.
The lack of supervision. Regulatory Commission and other regulatory authorities information disclosure of listed companies
The CSRC and its agencies and stock exchange stock market the main regulators. The initial public offering prospectus disclosure of information is the most detailed, comprehensive, and should be the most likely to discover problems. But investigated the case, a lot of companies already in the prospectus crazy bogus. Exchange regulatory information disclosure of listed companies mainly in the continuous disclosure stage for the the continuous disclosure carrier, periodic financial reports and the review of the interim financial report, exchange quite some time prior audit approach. Exchange the human, material, carefully audit is difficult to do in a few days time, the relative concentration of the periodic reports of listed companies,
Supervision of the Certified General Accountants Association did not play a better role
On one hand, the small scale of the accounting firm its economic dependence on customers, will be easily bought off customers by insider control, leading to the independence of the CPA profession is missing, it is difficult to independent, objective and impartial published audit opinion; auditors poor professional quality, relatively weak legal sense of responsibility and professional ethics also contributed to the accounting information disclosure incentives.
Accounting system, accounting standards, and other system itself, imperfect
Our basic theoretical research on the accounting is not deep enough, and can not be in time for the accounting system, accounting standards and other institutional regulations formulated to provide scientific adequate theoretical basis, resulting in the accounting system, accounting standards and other imperfections. Third, standardize accounting information disclosure of listed companies effective countermeasures


1. Improve the accounting information disclosure guidelines
Standardized accounting information disclosure system is essential for effective market, mainly to financial departments fully consider reasonable proposals of the securities regulatory authorities and listed companies, as soon as possible to improve the current accounting information disclosure system, and timely to develop a much-needed market new normative regulations. Accounting information of listed companies must disclose the contents to disclose, disclosure and non-compliance after the punishment should be more detailed requirements, and to enhance its operability.

2. Improve the accounting system, accounting standards and other rules and regulations
On the one hand, in the case together to play the role of China's accounting system, accounting standards, to ensure consistency within the accounting system and accounting standards specification; the other hand, to adapt to the actual development of the market, to speed up the revision of accounting standards and new guidelines supplement. A two-pronged approach, the accounting system, accounting standards and other rules and regulations the system gradually timely perfect.
3. Establish a sound internal control system
Listed companies should be reasonable to set the accounting department, to strengthen the construction of the internal audit system, set the internal audit institutions of the accounting operations the daily audit oversight board of listed companies should be set up as the person in charge of the audit committee composed of independent directors, is responsible for the company's operations by the Audit Committee and oversight of the audit of the financial activities, with the decision of hiring a Certified Public Accountant. Meanwhile, the supervision of the internal control to really do: First, to strengthen the internal control oversight of enterprise legal persons, the establishment of a major corporate decision-making collective approval system; strengthen management control and supervision of the corporate sector, the establishment of departments between the containment system; strengthen the control and supervision of the management of key positions, key staff rotation and periodic inspection system.
4. Development and improvement of the CPA auditing system, strengthen supervision over accounting
The one hand, to improve existing accounting personnel qualification standards, the implementation of a mandatory follow-up education system, effectively to help them improve the quality and enhance the risk awareness of certified public accountants, legal awareness, level of practice, practicing moral level, increase unprofessional punishment; On the other hand, the implementation of to improve CPA auditing system, the establishment of the Audit Committee of the Company's internal system, the implementation of the new audit commissioned relations, continue to improve the career development model led to government regulation, promote the Certified Public Accountant insurance system, the implementation of CPA's hiring and replacement mechanism to provide an institutional guarantee for the independence of the CPA Audit.

References:
[1] Tang Libin, the accounting information of listed companies to disclose liability set [J] Accounting Research, 2002, (08).
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