Research on Effectiveness of Audit Committees in Chinese Listed Companies ——Evidence from Patches on Annual Reports
- 管理学院－已发表论文 
当前,国内外监管政策日益重视审计委员会在保障财务报告质量中的作用。事实上,审计委员会是否已提高财务报告的质量,是一个实证检验的问题。本文的研究结果表明,设立审计委员会的上市公司发布年报补丁的概率比较低,与此同时,随着审计委员会独立性的增强、权威性的提高、主任委员独立性的增加,公司发布年报补丁的概率进一步降低。这些研究结果说明,当前我国上市公司已设立的审计委员会能有效地发挥提高财务报告质量的作用。Presently, supervisory policies increasingly pay more attention to the role of audit committee's role in protecting the quality of financial report. However, it is an empirical problem whether audit committees have improved financial report or not. Results in this paper indicate that the firms that have established audit committees are less likely to issue “patches” (i.e., supplementary and corrective statements) on their annual reports. Moreover, the likelihood of issuing such patches is negatively correlated with the improvement in characteristics of audit committees, including independence, authority and independence of leaders. On the whole, the existed audit committees in our listed companies are effective.