On the relation between the independence of corporate governance board and information quality.doc

On the relation between the independence of corporate governance board and information quality Liu Yali, Liu Ran School of Economy Management, University of Science Technology Beijing, P.R.China, 100083 摘要：200年新审计准则注册会计师与治理层沟通，治理层的沟通提高审计独立性和上市公司信息质量。本文上市公司治理层独立性检验了与信息质量的相关，。 Abstract: The new auditing standards replied since 2007 firstly regulate the commutation between CPA and corporate governance board in order to improve auditing independence and the listed companies’ information quality. The effect of the regulation depends on the independence of corporate governance board. This paper analyses the factors that affect the independence of corporate governance board, and examines the relations between independent director, the scale of supervisors’ board, audit committee, integration of president and general manager with information quality. We document that the high ratio of independent directors, the high information quality, however, there is no significant meaning to simply increase the amount of independent directors; the scale of supervisors’ board and audit committee passively relate to the information quality but not obviously; and the governance board participating management negatively relates to the auditing opinion, the integration of president and general manager has an uncertain relation with information quality, which is disadvantage to the market supervision. The paper proposes that it is benefit for improving the listed companies’ information quality by strengthening the independence of corporate governance board and performing the effective separation of corporate governance board and corporate management. Keywords: corporate governance board, independence, information quality 1 引言 2006年2月15日，财政部正式颁布了包括48项审计准则的新审计执业准则体系，2007年1月1日起在上市公司中率先执行，其他企业鼓励执行。其中《中国注册会计师执业准则第1151号——与治理层的沟通》首次提出治理层的概念，并对“管理层”和“治理层”进行了界定。所谓治理层，是指对被审计单位战略方向以及管理层履行经营管理责任负有监督责任的人员或组织公司治理层的责任包括对财务报告过程及程序的监督。管理层是指对被审计单位经营活动的执行负有管理责任的人员或组织，管理层负责编制财务报表，并受到治理层的监督因此，管理层对财务报表编制、报告及内部