在薩班斯法案第302條下的公司治理質(zhì)量的和內(nèi)部控制報(bào)告【外文翻譯】

1、外文文獻(xiàn)翻外文文獻(xiàn)翻譯譯譯譯文、、外文原文原文：CpateGovernanceQualityInternalControlReptingunderSOXSection302InthisstudyIexaminetheimpactofcpategovernancequalityonfirmreptingqualityintheabsenceofanexternalaudit.SpecificallyIexaminethecpategove

2、rnancequalityimpactonfirmreptingofinternalcontroldeficiencies(ICDs)pritoSOXmatedaudits.IndoingsoIprovideevidenceonthecurrentdebateoverwhethersmallerpubliccompaniesshouldbeexemptedfromtheauditofinternalcontrolsasmatedbyth

3、eSarbanesOxleyActof2002(SOX)section404.TotestthelinkbetweencpategovernancequalitycompanyreptingIuseinternalcontrolreptsissuedbymanagementundersection302ofSOX.ThissectionrequiresthatCEOsCFOscertifyineachquarterlyannualrep

4、tthattheyhaveevaluatedthecompany’sinternalcontrols“asofadatewithin90dayspritotherept”thattheyhavepresentedtheirconclusionsregardingtheeffectivenessoftheircontrolsinthatquarterlyannualrept.Thisrequirementrelatestoallquart

5、erlyannualfilingsafterAugust292002.TherequirementsinSOXrelatingtointernalcontrolreptingprovideanidealsettingtoexaminetheimpactofcpategovernanceonfirmreptingintheabsenceoftheaudit.UnderSection302managementisrequiredtoperf

6、mcontrolevaluationshowevertheauditisnotrequiredtoevaluatemanagement’sassessmentofcontrolqualitytoperfmtheirowncontrolevaluation.BeginningwithfiscalyearendsafterNovember152004section404ofSOXrequiresthattheexternalfinancia

7、lstatementauditperfmanauditofthefirm’sinternalcontrolsoverfinancialreptingprovideanopinionintheannualfilingastotheireffectivenessaswellasanopinionregardingmanagement’sassessmentofdisclosethemundersection404.Usingthissamp

8、leIexaminefirmgovernanceacteristicsrelatingtothedisclosureofICDsundersection302ofSOXholdingconstanttheexistenceofaweakness.IndesigningthestudyinthiswayImaketheassumptionthatmaterialweaknessesdisclosedincompany’sannualfil

9、ingsunderSOX404existedthroughoutthefiscalyear.Iattempttolimitthoseobservationswherethecontrolweaknesswasreptedundersection404butdidnotexistpreviouslybylookingatonlythe3quarterspritothefirst404repttodeterminewhethertheobs

10、ervationwasinthegroupdisclosingundersection302thegroupnotdisclosingundersection302.Thisassumptionisalsoinlinewithassumptionsmadeinpriresearchaswellasbyprofessionals.FexampleGlassLewis&Companyargue“Inourviewthecontroldefi

11、ciencyprobablydidnotappearovernight.Consequentlywefeelthattheproblemmostlikelyexistedinpriquarters”(GlassLewis&Co.2005).Doyleetal.(2007b)arguethatmanyoftheinternalcontrolweaknesses“haveexistedfseveralyearspritotheirdiscl

12、osureifnotsincethefirm’sinception.”Concurrentresearchexaminestheeffectofcpategovernancequalityonthequalityofinternalcontrols.Hoitash(2009)findsevidenceofanegativerelationshipbetweencpategovernancequalityinternalcontroldi

13、sclosuresunderthesection404regime.Theyfindnosuchrelationshipunderthesection302regime.Theyconcludethatcpategovernancequalityhaslittleimpactoninternalcontrolqualityinaregimewithoutthemanagementauditingrequirementsoutlinedi

14、nsection404.ThenextbestalternativetocpategovernanceimprovingthequalityofinternalcontroloverfinancialreptingisfthemtoatleastdiscloseICDstoinvestssoinvestshavemeinfmationwithwhichtojudgethequalityoffinancialdisclosures.The

15、requirementsinSOXsections302404relatetothediscoverydisclosureofICDs.IextendthefindingsinHoitashetal.(2009)bystudyingtherelationshipbetweencpategovernancequalitydisclosureofICDsinanenvironmentvoidoftherequirementofanaudit