279.f论中小油田企业内部控制存在的问题及对策 外文原文

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1、HowDoesInternalControlRegulationAffectFinancialreportingJenniferAltamuroFishercollegeofBusinessTheOhioStateUniversityAbstract:Internalcontrolregulationeffectivenessremainscontroversialgiventherecentfinancialcrisis.ToaddressthisissueweexaminethefinancialreportingeffectsoftheFe

2、deralDepositoryInsuranceCorporationImprovementAct(FDICIA)internalcontrolprovisions.Exemptionsfromtheseprovisionsforbankswithassetsunder$500millionandfornon-U.S.banksprovidestwounaffectedcontrolsamples.OurdifferenceindifferencesmethodsuggeststhatFDICIA-mandatedinternalcontrolr

3、equirementsincreasedloan-lossprovisionvalidity,earningspersistenceandcash-flowpredictability,andreducedbenchmark-beatingandaccountingconservatismforaffectedversusunaffectedbanks.Morepronouncedeffectsininterimversusfourthquarterssuggeststhatgreaterauditorpresencesubstitutesfor

4、internalcontrolregulation.1.IntroductionInternalcontrolsystemshavelongbeenadvocatedasamechanismforestablishinghighqualityfinancialreporting,andfirmshavevoluntarilyusedthemforthispurpose.Inresponsetoseveralhigh-profilefinancialfrauds,theCommitteeofSponsoringOrganizationsoftheT

5、readwayCommission(COSO)issuedtheirInternalControl-IntegratedFrameworkinSeptember1992.Thisreportprovidedafoundationforassessinginternalcontroleffectiveness.Sincethen,severalwavesofaccountingscandalshaveledtoregulatoryrequirementsformanagersandauditorstoreportoninternalcontrole

6、ffectiveness.Mostrecently,theSarbanesOxleyAct(SOX)internalcontrolprovisionshavefueledtheongoingdebateamongregulatorsandpractitionersabouttheeffectivenessofthistypeofregulationinimprovingfinancialreportingqualitygiventhesubsequentfinancialcrisis.InaspeechdeliveredattheU.S.Cham

7、berofCommerceGlobalCapitalMarketsSummit,JamesTurley(2008),ChairmanandCEOofErnstYoung,callsfor“aglobaldebateaboutwhatmanagementshouldbesayingaboutitscontrols,(and)whatauditorsshouldbesayingaboutthem,ifanything.”Supportersofinternalcontrolsregulationarguethatlimitingmanageriald

8、iscretionimprovesfinancialreportingquality.Whilepotentiallytrueforfi