內(nèi)部控制失敗與公司治理結(jié)構(gòu)的關(guān)系——后薩班斯法案分析【外文翻譯】_第1頁
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1、本科畢業(yè)論文（設(shè)計(jì)）外文翻譯外文題目InternalControlFailuresCpateGovernanceStructures—APostSarbanesOxleyAct(SOX)Analysis外文出處GegiaInstituteofTechnology外文作者BengWeeGoh原文：原文：InternalControlFailuresCpateGovernanceStructures—APostSarbanesOxleyAc

2、t(SOX)Analysis3.1RelationbetweenInternalControlQualityCpateGovernanceStructure3.1.1MonitingofInternalControlsbytheBoardofDirectsThefindingsthatweakinternalcontrolsresultinloweraccrualsqualitynegativestockmarketreactionle

3、ndsuppttotheregulats’emphasisoninternalcontrolstoimprovefinancialreptingquality.Weakinternalcontrolsespeciallyifdisclosedallowedtopersistcanundermineusers’perceptionofthecredibilityofthefirm’sfinancialreptingharmthefirmi

4、nthelongrun.Despitetheimptanceofinternalcontrolsresearchonwhatcpategovernancemechanismscanensureeffectiveinternalcontrolsisscant.FamaJensen(1983)contendthatboardsassumeanimptantroleincpategovernance.Themodernlargecpation

5、isacterizedbytheabsenceoftheclassicalentrepreneurialdecisionmaker.Insteadindertoreapthebenefitsofrisksharingthecompany’sresidualclaimsarediffusedamongmanyinvestswhogenerallyvesttheirdecisionrightsinindividualswithspecial

6、izedknowledge.Agencytheypredictsthatsuchdelegationofdecisiontomanagementcreatesconflictsofinfmation(JensenPayne2003).Finstanceaccountingpersonnelwithhighlevelsofaccountingexpertisearemelikelytocapturereptrelevantfinancia

7、linfmationusefulfdecisionmakingpreparefinancialstatementsinconfmancewithgenerallyacceptedaccountingprinciples(GAAP)fexternalparties.Highlycompetentexperiencedaccountingpersonnelarealsobetterabletounderstcomplexaccounting

8、issuesdealwithnonroutineaccountingtransactions.Anotherimptantinternalcontrolthatcurbsmanagers’opptunisticbehaviistheinternalauditfunction.Manyoftheresponsibilitiesofinternalauditsarelinkeddirectlytotheproductionmonitingo

9、faccountinginfmation.Oneofthemistotestevaluatemakerecommendationsregardinganganization’saccountingsysteminternalcontrolsoverfinancialrepting.Bydoingsointernalauditsreducetheriskoffraudprotectassetsfromtheftlossthusensuri

10、ngthataccountinginfmationgeneratedbythefirmislesssusceptibletoerrs.Theabovediscussionshighlighttheimptanceofinternalcontrolsasamonitingmechanismthattheboardusestoreduceagencyconflictsmanagers’opptunisticbehavi.Reputation

11、alconcernsprovideadditionalincentivesftheboardofdirectstoplayavigilantroleinthemonitingofinternalcontrols.Fama(1980)FamaJensen(1983)contendthatoutsidedirectsaregenerallyhighreputationmembersofthebusinesscommunitywhoviewt

12、hedirectateasameansoffurtherdevelopingtheirreputationsasexpertsindecisioncontrol.Directswhodemonstratetheirsuperiabilityindecisioncontrolarerewardedthroughadditionaldirectshipsprestige.Hencedirectshaveincentiveseithertop

13、rotectenhancetheirreputationalcapital.Becauseweakinternalcontrolsarelikelytoresultinlowerfinancialreptingquality(Ashbaughetal.2006aDoyleetal.2007b)harmthedirects’reputationtheboardislikelytoplayavigilantroleinthemoniting

14、ofinternalcontrolsfinancialrepting.3.1.2MonitingofInternalControlsbytheAuditCommitteeItiscommonftheboardtodelegatedutiestoasubsetoftheboard.Theextantliteraturesuggeststhattheboardfaceslitigationrisksfmonitingfailuresthat

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