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Governance Tactics of the Audit Collusion in Listed Company

Author: XueMeiJun
Tutor: WuQiuSheng
School: Shanxi University of Finance
Course: Accounting
Keywords: Listed companies Auditing Collusion Control
CLC: F239.4
Type: Master's thesis
Year: 2011
Downloads: 142
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Abstract

Audit collusion produce serious damage to the independence and objectivity of the audit, seriously misleading the decisions of the various stakeholders, violations of the legitimate rights and interests of the various stakeholders, and serious damage to the stability of the securities market. So what to the effective governance audit collusion? Conspire parties reached Auditing Collusion conditions, this article by game model, game analysis on the basis of the listed company and a certified public accountant, drawn conspire parties to reach collusion The conditions, i.e., (DKF LC) ÷ (ZJ zj) ≥ q established. Successful collusion by the audit, we can see the reasons for audit plot produces the following aspects: First, ineffective supervision of the CPA profession, mainly reflected in: a number of government departments regulatory functions staggered, the Certified General Accountants Association failed to give full play to self-discipline functions, audit the conspired related parties punishment is not enough, this is such q, z, j, Z, J the value is too small, so that the the Auditing Collusion conditions easy to reach; reasons listed company level, mainly : board of directors, board of supervisors, as well as the independence of the audit committee and the audit commissioned by the appointment mechanisms unreasonable, which makes L (CF) the value is too large, making the the Auditing Collusion success condition is easy to reach; CPA firm level reason mainly reflected in our accounting firm organizational structure is unreasonable, limited liability company (makes collusion direct punishment by the value of z is small), as well as the size of the accounting firm generally small (making due to accounting matters listed companies disclosed violations, the loss of the value of L is too large the potential loss of the opportunity to continue to cooperate with the customers of the accounting firm) audit plot the likelihood of success increases. On the basis of the above analysis, we have targeted the governance of listed company audit plot strategy. External regulatory levels countermeasures, including: a clear division of responsibilities of government regulators, is not conducive to the Ministry of Finance is the management of the local financial department, and then by its traveling supervise the separation of ownership and other reasons, the paper argues that the right to the supervision of the Ministry of Finance should be canceled replaced by the Audit Commission for traveling; SFC still fulfill the custody of the listed companies, but the Audit Commission to accept audit; give full play to the functions of the Certified General Accountants Association of self-discipline; strengthen supervision by public opinion; improve the accountability mechanism, increase penalties efforts. Countermeasures include: to improve the corporate governance structure, to increase the independence of the independent directors; According to China's specific national conditions, to cancel the audit committee system; perfect the system of the Board of Supervisors, \The company, in order to enhance the independence of the board of supervisors, a member of the board of supervisors should be elected by small and medium-sized shareholders; improved after the Board of Supervisors to exercise the right to audit commissioned. The CPA level Countermeasures, including the improvement of the firm's organizational structure and promote the firm's large-scale operations.

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