中欧上市公司审计监管合作法律问题研究

Legal Issues on the Sino-European Cooperations between the Oversight Authorities of Auditors for Listed Companies

审计是上市公司信息披露质量的保证,对于完善公司治理结构具有重要意义;资本流动的全球化使得上市公司审计监管的国际合作十分必要。就此而言存在着两种主要模式:以美国萨班斯法为代表的信任本国和域外监管模式,以及以欧盟公司法第8号指令为代表的相互信任和母国监管模式。欧盟于2011年对我国上市公司的审计监管体制作出等效性认定,为中国和欧盟成员国的合作开创了重要条件,也对中美谈判产生了积极影响。中国应充分利用欧盟的等效性认定,完成与欧盟成员国的谈判并缔结工作安排,完善有关立法,并联合欧盟应对美国的联合检查要求。

Audit service is the importance guarantee of the quality of information disclosure by the public companies.It constitutes a vital aspect to the improvement of the corporate governance.The internationalization of the capital flowing results in the cross-border audit service,and makes it necessary to cooperate with each other for the oversight authorities of auditors.There are mainly two models on this aspect;the reliance on the own country's regulator and the extraterritorial jurisdiction of the America Sabanes-Oxley Act,and the mutual reliance and home country regulation doctrine of the new EU 8th Company Directive of 2006,which respectively represent the unilateralism and multilateralism.The European multilateralism is more favorable in terms of the protection of Chinese national interest.The decision of equivalence of Chinese public oversight,quality assurance,investigation and penalty systems for auditors and audit entities given by European Commission in 2011 marks a significant step for the Sino-European cooperation on the audit regulators,bringing positive influence on the Sino-US negotiation on the matter.Chinese authority should make full use of the European decision,finish the mutual negotiations and sign working arrangements with the member states.It will be helpful for Chinese authority to improve its regulations and get the adequacy decision of EU.China should resist,jointly with EU,the position of joint inspections of US.