问询函监管能改善公司的内部控制质量吗?——来自沪深交易所年报问询的证据  

Do Inquiry Letters Supervision Improve Internal Control Quality?——Evidence from Shanghai and Shenzhen Stock Exchanges of Annual Report Enquiry

作　　者：聂萍[1] 潘再珍 肖红英[2] Nie Ping

机构地区：[1]湖南大学工商管理学院,410082 [2]天职国际会计师事务所(特殊普通合伙)湖南分所,410008

出　　处：《会计研究》2020年第12期153-170,共18页Accounting Research

基　　金：国家自然科学基金项目(71702051);国家社会科学基金项目(20STA058)的资助。

摘　　要：本文以2013-2017年中国A股上市公司为研究样本,考察了与内控相关的年报问询函监管对公司内部控制质量的治理效应。研究表明,与内控相关的年报问询函监管对公司未来内部控制质量具有明显的改善效果,且这种积极效用在具有年审会计师对内控问题发表专业核查意见的年报问询函中更明显。从公司所处信息环境看,与内控相关的年报问询函监管在信息透明度较差情景中对内部控制质量的改善效应更明显。进一步地,年报问询强度越大,与内控相关的问询函监管对内部控制质量的积极作用更强;且与内控相关的问询函监管对内部控制质量的积极作用在同行业可比公司中具有"溢出效应"。最后,按内控五大要素对问询函内容进行机制检验后,发现与内控相关的年报问询函监管对内控质量的影响效用主要表现在具有内部监督、控制活动的问询语境中。因此,应着力推行问询函监管制度并使之成为一种弥补中国新兴市场信息环境监督不足的重要治理机制。Based on the policy of inquiry letters from the Shanghai and Shenzhen Exchanges.Taking Chinese A-share listed firms from 2013 to 2017 as our sample,this paper investigates the governance effect of internal control-related inquiry letters on internal control quality.The empirical results show that the regulatory of internal control-related enquiry letters have a positive effect on internal control quality,and this positive effect is more pronounced in internal control-related enquiry letters with professional verification opinions on internal control issues by annual auditors.From the information environment of the companies,internal control-related inquiry letters have a more governance role in the improvement of internal control quality when companies are located in opaque information environment.Furthermore,the greater the intensity of enquiry letters,the internal control-related inquiry letter supervision on the quality of internal control is stronger;and the effectiveness of control-related inquiry letters on the improvement of internal control quality have a deterrent"spillover effect"in comparable industries.Finally,the mechanism shows that the internal control-related inquiry letters supervision on the quality of internal control is mainly manifested in the inquiry context with internal supervision and control activities.we should focus on the implementation of the inquiry letters system and make it an important governance mechanism to make up for the insufficient supervision of market information environment in Chinese emerging markets.

关 键 词：内控相关的年报问询函 内部控制质量 信息透明度 内控五要素问询 

分 类 号：F275[经济管理—企业管理] F832.51[经济管理—国民经济]