The Effect of the Board of Directors and Audit Quality on Disclosure of Internal Control Practices: Evidence from European Companies

The purpose of this paper is to examine the effect of the board of directors,namely board size,board independence,and CEO duality,as well as audit quality on the disclosure of internal control information.The sample consists of 164 European companies listed in the STOXX Europe 600.Based on positive agency theory,the authors posit that board of directors and audit quality influence corporate internal control disclosure practice.The content analysis and the design of the evaluation criterion were used to calculate the disclosure index of internal control.Thus,multiple regression analysis is utilized to analyze the results of this paper.The average internal control information disclosure index was 0.285,indicating that most of the companies in our sample do not disclose enough information about the internal control.This low level of forward-looking information disclosure makes it very difficult for corporate stakeholders to determine the future performance of the company.Multivariate results indicate that internal control disclosure is positively and significantly associated with board independence,CEO duality,and audit quality.This study contributes to the literature on the various governance characteristics and disclosure by showing that the disclosure of internal control information in European countries is positively and significantly associated with board independence,separation of duties,and audit quality.Our study was based on a sample of European companies including countries regulating IC disclosure as well as unregulated settings.As noted by Bedard and Graham(2014),regulatory differences in countries can contribute insights on the costs and benefits of disclosure.Findings also have policy implications for investors,managers,and regulators.

The Effect of Audit Objectives on Audit Quality Why is There Little Disclosure of Significant Deficiencies in Japanese Internal Control Audits？

Many prior research findings indicate that audit quality differs between the Big 4 and non-Big 4 audit firms using an indicator variable. However, most previous research focuses on only outcome measures, such as audit fees, going concern reports, and non-audit services. This study investigates audit quality differentiation between the Big 4 and non-Big 4 audit firms hypothesis from an audit objective point of view. One of the material objectives of Japanese internal control audit institutions is to facilitate assessment and improvement of internal controls by corporations themselves. The findings of this study indicate that the Big 4 audit firms accomplish this objective better than non-Big 4 audit firms. Consequently, most Big 4 clients do not disclose significant deficiencies （SDs）, implying that they improve the quality of internal controls through internal controls auditing. This paper concludes that Big 4 firms produce a higher audit quality level than non-Big 4 firms, and this quality difference iS related to how an audit objective is interpreted and implemented.

Research on Internal Control Information Disclosure of Real Estate Industry-Taking Taihe Group as an Example

After the outbreak of the Enron incident in the United States, China’s attention to internal control information disclosure has gradually increased. As a pillar industry of the national economy, real estate industry internal control system is sound, which has an important impact on social stability and healthy economic development. Therefore, this paper selects a company in the real estate industry, through the analysis of its internal control information disclosure, finds out its existing problems, and puts forward practical and feasible suggestions.

Reducing the Internal Difference Error Rate in Hospital Pharmacies:From the Angle of Quality Control Circle

Objective To improve the management level of pharmacy dispensing center,reduce dispensing errors and promote the safety of drug use.Methods Hospital pharmacies could be managed according to the theory of quality control circle(QCC).Based on the ten steps of QCC,the internal difference error rate in pharmacies could be reduced.Results and Conclusion The error rate of pharmacies was reduced from 2.74‰to 0.57‰,and the goal achievement rate was 108.466.Besides,the progress rate reached 84.82%.The abilities of circle members were improved,and the operation of pharmacy was more standardized.The activity of QCC is helpful to reduce the internal difference error rate,improve the operation level of pharmacy and ensure the safety of drug use.

Internal Control and Internal Audit in the Function of Supervising the Operations of Companies

The management of a modern company is faced with the need to make business decisions regarding the achievement of business goals.Increased interest in establishing internal control is affected by the presence increased corruption and the erosion of business morality.For internal controls,everyone is interested,from external auditors to management,board of directors,shareholders of large public companies and the state.With the constant growth of the company,the decentralization of business has been compounded by the management process.Therefore,in addition to internal control,internal audit is required.The company’s management cannot deal with oversight because it has to deal with strategic issues.This is where internal audit is performed as an expert service.The results of the conducted empirical research showed that the stages of development of internal control in enterprises in Montenegro do not correspond with the achieved degree of development of this profession in the countries of the developed market economy.

Propagation form of internal cracks induced by continuous casting soft reduction and control strategy for internal quality

The propagation form of internal cracks induced by continuous casting soft reduction and the control strategy for enhancing the internal quality of 45 steel through industrial trials and a three-dimensional flow-heat transfer-solidification coupling model were investigated.The results showed that the internal cracks induced by soft reduction exhibited a characteristic of being"coarse in the middle and fine at both ends",and displayed an elliptical arc distribution on the loose side of the strand cross section.The cracks originated within the brittle temperature range and propagated inward to the liquid impenetrable temperature and outward to the zero ductility temperature or below.The control strategy for enhancing the internal quality of the 45 steel strand through soft reduction is to adjust the casting speed or the reduction zone appropriately,ensuring that the central solid fraction of the reduction zone falls within the range of 0.33-0.99.At this point,a reasonable reduction amount is allocated to eliminate the center shrinkage cavities and center segregation,even if it results in minor reduction-induced cracks.

Contemporary Values of Confucianism and the Effectiveness of Internal Control in Corporate Management:Compatibility between Management Culture and Systems in Chinese Enterprises

Based on data from China’s A-share listed companies from 2008 to 2017,this paper examines the influence of the contemporary values of Confucianism,namely benevolence,righteousness,propriety,wisdom,and fidelity on the effectiveness of internal control.It indicates a significant positive correlation between the contemporary values of Confucianism and the effectiveness of internal control.Furthermore,this positive influence is noticeable in family-owned businesses but is unobserved in foreign-invested enterprises in China.In addition,the contemporary values of Confucianism enhance internal control quality through two pathways:promotion incentives and corporate reputation.In regions with lower degrees of openness,lower levels of rule of law and slower marketization,or in companies facing operational crises,the contemporary values of Confucianism have a more pronounced effect on enhancing the effectiveness of internal control.The contemporary values of Confucianism have strengthened the ability of internal control to decrease agency costs and mitigate the negative influence of internal control on risk-taking.

MALDI-TOF MS微生物鉴定的室内质量控制体系建立

基质辅助激光解吸/电离飞行时间质谱(matrix-assisted laser desorption ionization-time of flight mass spectrometry,MALDITOF MS)具有快速、准确、低成本、操作简单的特点,是临床微生物鉴定的首选技术之一。MALDI-TOF MS的准确鉴定依赖于良好的仪器状态、有效的菌株蛋白质抽提及规范的操作与结果判读原则,任一环节的失误均直接影响鉴定结果的准确性。因此,严格的室内质量控制对MALDI-TOF MS微生物鉴定至关重要。该实验室根据6年的应用经验及研究,建立了一套较为完整的MALDI-TOF MS微生物鉴定室内质量控制体系,覆盖硬件、软件及人工操作各个环节,内容包括仪器参数设置、维护与校准,菌株与试剂的准备以及谱图采集与结果判读分析,使鉴定结果异常时可迅速溯源并及时处理。

对外直接投资多元化、海归高管与内部控制审计--OFDI企业的内部控制审计师选择思路

以2012—2018年的A股OFDI企业为样本,在企业国际多元化发展的视角下研究了OFDI企业选聘内部控制审计师的问题。实证结果表明,企业内外部国际化发展特征越明显,企业越倾向于选择高国际声誉的审计师,具体表现为当企业的海外背景高管比例越高,企业对外直接投资的程度越高时,企业越倾向于选择“国际四大”。进一步的研究还表明,企业东道国的经济发展水平越高,不仅会约束自身的盈余管理倾向,还能督促“国际四大”提高审计质量,说明东道国的制度环境与“国际四大”存在监管的协同作用。

Microsoft Excel在RIA室内质量控制中的数据自动处理和质控图自动绘制设计及应用

用Microsoft Excel对RIA室内质量控制(IQC)中的多参数(高、中、低)质控血清数据进行全自动处理和全自动绘制室内质控图。在Microsoft Excel中:AVERAGE和STDEV分别自动计算出质控血清的x、s和CV%;应用PEARSON计算出各质控血清间相关系数(r);在图表自定义系列中引入原数据自动绘制质控图;应用逻辑判定给出质控判定,导出各质控参数的质控状态、出控时间和出控数据。4年来对RIA各项目的多参数室内质控图自动绘制、质控数据自动统计计算和质量控制判定准确无误,具有速度快、易操作,实现了RIA的IQC微机自动化管理,且适用于其他各种体外标记免疫分析的IQC。

Disclosure Quality in Goodwill Impairment Tests： Turkey Case

The issue of goodwill impairment has been debated in many countries throughout the world. Adoption of International Financial Reporting Standards （IFRS） introduced fundamental changes in accounting and impairment methods for goodwill. Since global stock markets went into decline in 2008, there has been much debate over the issue of goodwill impairment in the US and European stock exchange markets, especially on how large the write-downs should be. Complexity of International Accounting Standards （IAS） and IFRS focusing on goodwill and goodwill impairment techniques may lead to inconsistent compliance and varying levels of disclosure quality. The aim of this study is to analyze goodwill impairment during and after the recent financial crisis for companies listed on the Borsa Istanbul （BIST） 100 index and to assist the financial statement users in the assessment of disclosure quality under IAS 36, Paragraph 134d. Tools such as： （1） the period over which management has projected cash flows; （2） the growth rate used for cash flow projections; （3） the discount rate（s） applied to projections; and （4） methods employed to determine recoverable amount are analyzed. Insufficient disclosures on these tools are observed. The findings are of interest to researchers examining the implication of IAS 36, regulators, and policy-setters.

董事高管责任保险与碳信息披露质量

在实现国家“碳达峰、碳中和”战略目标的背景下,上市公司紧跟国家政策导向,积极履行自愿披露碳信息的义务。基于此,本文以2015~2022年中国A股上市公司为样本,实证检验了董责险对碳信息披露质量的影响。研究发现,董责险通过最大诚信原则的保险文化、保险公司的持续监督和自发传递积极的信号,提高企业的碳信息披露质量。机制上,董责险提高内部控制质量,进而影响碳信息披露质量。进一步地,当上市公司属于重点排污单位、处于非低碳试点城市、市场化程度高时,董责险对碳信息披露质量的影响更显著。本文研究为构建更完善的保险服务体系、深化绿色低碳转型的治理体系提供了理论依据,并对我国实现“双碳”战略目标具有一定的启示意义。

内部控制、自愿碳信息披露与财务绩效

针对内部控制、自愿碳信息披露与财务绩效的关系问题,采用实证研究的方法,以2017—2021年沪市A股重污染行业企业为样本,分析内部控制、自愿碳信息披露与财务绩效的关系。研究表明:高质量的内部控制与财务绩效显著正相关;内部控制与自愿碳信息披露显著正相关;高质量的内部控制可以通过自愿碳信息披露来提高财务绩效,自愿碳信息披露在内部控制与财务绩效的关系中发挥部分中介效应。研究结论为重污染行业企业加强内部控制,促进企业绿色低碳发展提供参考。

董事会断裂带、内部控制与审计质量——基于制造业上市公司的数据

断裂带的存在极容易使董事会形成不同的子群体,而子群体间的相互作用又会反向牵制和干扰董事会的监督能力,进而影响审计质量。以2013—2021年中国沪深A股制造业上市公司为样本,探究董事会断裂带对审计质量的影响。研究发现:首先,董事会断裂带与审计质量呈倒U形关系,断裂带异常会干扰公司董事会监督职能的正常发挥,从而影响审计质量;其次,董事会断裂带与审计质量的倒U形关系主要源于任务导向断裂带的作用,在企业成熟期更为显著;最后,内部控制能够削弱董事会断裂带对审计质量的影响,而良好的内部控制有助于缓解股东与管理层的代理成本,弥补董事会子群体间冲突带来的负面影响,在合理范围内有效地提升审计质量。

企业ESG表现缓解了股价延迟吗?--基于我国A股上市公司的经验证据

以2008—2021年华证ESG评级上市公司为研究样本,探究企业ESG表现对股价延迟的影响及作用机制。结果表明:企业ESG表现能够有效缓解股价延迟,股票流动性水平、分析师关注和内部控制质量是企业ESG表现缓解股价延迟的重要作用路径。截面异质性分析发现:企业ESG表现对股价延迟的缓解作用在非国有企业、非政企关联企业以及审计质量较高组中更强。研究结论为提升我国资本市场信息效率提供了新的线索,为推动企业ESG实践提供了必要启示。

碳信息披露质量、政府补助与绿色技术创新

“双碳”目标是我国高质量发展的必然选择,强化企业碳信息披露有利于推动企业绿色转型,促进经济高质量发展和“双碳”目标实现。本文基于2012—2022年深沪A股重污染行业上市企业面板数据,利用中介效应模型计量检验了碳信息披露质量对企业绿色技术创新的影响以及政府补助的中介效应,分析了内部监督的调节作用,并就不同企业规模及性质的碳信息披露质量对绿色技术创新的影响水平进行异质性分析。研究结果显示:碳信息披露质量对企业绿色技术创新有正向促进作用,且政府补助在其中具有中介效应。良好的内部监督机制能够促进企业绿色技术创新,内部监督程度越高,中介效应越强。异质性分析发现,国有企业的碳信息披露质量和规模较大的企业碳信息披露质量,对于企业绿色技术创新的促进作用更显著。应制定完善的信息披露政策和规范,提高碳信息披露质量;优化政府补助政策,助力企业绿色技术创新;强化内部监督机制,健全碳信息披露监管体系,切实提高碳信息披露质量,助力绿色技术创新。

董事高管责任保险与会计信息质量——基于党组织参与治理的替代或互补效应

以国务院在2020年10月出台的《关于进一步提高上市公司质量的意见》政策为研究契机,选取我国2010—2021年A股上市公司为样本,采用双向固定效应模型,在研究董事高管责任保险对会计信息质量治理作用的基础上,研究党组织参与公司治理是替代还是互补董事高管责任保险发挥这一治理效应,以及剖析其传导效应和企业异质性效应。研究结果表明:董事高管责任保险对企业会计信息质量有治理效应,且“双向进入”式党组织参与治理会提升董事高管责任保险对会计信息质量的治理效应,即存在互补效应;而“交叉任职”式党组织参与治理抑制董事高管责任保险对会计信息质量的治理效应,即替代效应。进一步分析研究表明:董事高管责任保险会通过促进企业创新和提高内部控制质量对会计信息质量发挥治理效应,并在媒体关注度或盈利能力越高的企业中这种治理效应更好。上述研究结果不仅从新视角拓展会计信息质量影响因素的研究,而且丰富董事高管责任保险和党组织参与公司治理的单独及联合治理效果,并为政府、企业等相关利益者在实践中发掘董事高管责任保险的积极作用和提高会计信息质量提供了有益的实践启示。

免疫固定电泳检测室内质量控制样品的研制和评价

目的 制备适用于琼脂糖凝胶免疫固定电泳(IFE)检测的室内质量控制样品,并对其均匀性、稳定性、适用性进行评价。方法 依据实验室内部研制质量控制样品相关指南要求,基于临床样本,自制琼脂糖凝胶IFE检测阴性、弱阳性、阳性质控品,并对其进行均匀性、稳定性和适用性评价。结果 3个浓度水平质控品的均匀性良好。质控品开瓶后,2~8℃冷藏保存4个月,检测结果一致性较好;不启封-40℃冰箱冻存5年,检测结果一致性较好;同品牌其他系列检测系统和不同品牌检测系统检测结果一致性也较好。结论 制备的琼脂糖凝胶IFE检测室内质量质控样品具有良好的均匀性、稳定性、适用性,可满足临床实验室质量控制要求。

社会责任履行对企业绿色技术创新的影响研究——基于A股上市公司经验证据

基于中国2010-2020年沪深A股上市公司的面板数据进行了分析。研究结果表明,企业履行社会责任能显著促进其进行绿色技术创新活动。同时,内部控制质量在其中起到了中介作用,这种促进作用在不同所有制和不同行业背景下效力不同。