摘要
我国自2011年起在主板上市公司中分类分批实施强制性财务报告内部控制(ICFR)审计,非主板上市公司可以自愿选择ICFR审计,这为比较两种审计制度的效果提供了机会。ICFR审计的主要目标之一是监督并改进公司内部控制质量。本文手工搜集2007-2017年A股公司ICFR审计数据,采用截面分析和双重差分模型,比较了强制性、自愿性ICFR审计对公司内部控制质量的影响。研究发现,截面上强制进行ICFR审计的主板上市公司内控质量要显著优于自愿性ICFR审计的公司。而且,强制性ICFR审计能够提高以往未进行ICFR审计的主板上市公司的内部控制质量,而对于之前自愿进行过ICFR审计的主板上市公司内部控制质量提升并不明显。进一步检验发现,强制性ICFR审计通过更多的审计努力和促使公司整改内部控制缺陷而监督、激励公司提升内部控制质量。本文首次对比了强制性、自愿性ICFR审计的相对效果,探索了ICFR审计制度提高公司内部控制质量的机制,并为我国ICFR审计制度变迁效应提供了佐证。
China’s Main Board listed companies in Shanghai Stock Exchange and Shenzhen Stock Exchange have implemented mandatory audit on the internal control over financial reporting(ICFR)in batches since 2011.Non-main board listed companies can voluntarily choose ICFR audits,that is,mandatory and voluntary ICFR audits in the A-share market will coexist for a long time.The setting provides an excellent opportunity to compare the effectiveness of both audits.One of the main objectives of the ICFR audit is to monitor and improve the company’s ICFR quality.We hand collects the ICFR audit data of A-share companies from 2007 to 2017 and compares the impact of mandatory and voluntary ICFR audits on the internal control quality(ICQ)of the company by using cross-sectional analysis and difference-in-differences model.The study finds that cross-sectionally,the ICQ of Main Board listed companies that carry out mandatory ICFR audit is significantly better than that of those implementing voluntary ICFR audit.The mandatory ICFR audit can improve the ICQ of listed companies that have not conducted voluntary ICFR audits but has little effects on company which previously conducted voluntary ICFR audits.Further examination finds that mandatory ICFR audit monitors and stimulates the companies to enhance ICQ through more audit efforts and prompting them to remediate internal control weaknesses.This paper compares the relative effects of mandatory and voluntary ICFR audits for the first time,explores the mechanism of the ICFR audit system to improve the internal control quality of the company,and enriches the evidences for the ICFR audit system change effects in China.
作者
张国清
马威伟
Zhang Guoqing;Ma Weiwei
出处
《会计研究》
CSSCI
北大核心
2020年第7期131-143,共13页
Accounting Research
基金
教育部人文社科重点研究基地重大项目(18JJD790009,13JJD790028)
国家自科基金面上项目(71473211)
国家社科基金重点项目(20AGL013)
国家留学基金委(201906315038)的资助
