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Further improve company financial disclosure quality IPO

The China securities regulatory commission on May 30, particularly interduced held news, formal publicize the CSRC announcement [2012] no. 14-" on further improve the initial public offerings of shares the financial information disclosure of the relevant questions of the quality opinion "(hereinafter referred to as" opinions ").

Securities regulatory commission relevant departments controller introduces, strengthen the financial information disclosures, improve the financial report information quality, is deepening the reform of system of new shares an important job. True, accurate, complete financial information disclosure, make the ipo price can truly reflect the value, so as to facilitate the capital market pricing function; Also is to protect investors the right to know, the decision-making power investors, the prerequisite and basis of the listed company to help promote perfect investors reward system, to protect the legal rights of investors. Therefore, the CSRC according to "about further deepening the reform of system of the ipo guidance" (CSRC announcement [2012] 10 date) concerned called for the release of "opinion". "Opinions" mainly includes the following three aspects:

One is the clear the issuer, accounting firm and sponsor in initial public offerings of shares the financial information disclosure of the related work responsibility, and required the market main body position responsible. The issuer as information disclosure the first person, shall be liable to the financial report of the accounting responsibility, financial information disclosure of the disclosure of the responsibility to ensure that the prospectus of the accounting information disclosure is true, accurate, complete; Public accounting firms shall be in strict accordance with the certified public accountants and its signature practicing standards the audit report, audit reports and other verification report; The sponsor of the issuer to earnestly implement the counseling, due diligence and sponsor responsibility.

2 it is aimed at the initial public offerings of shares the financial information disclosure of problems existing in the work of the issuer, accounting firm and sponsor put forward the following nine aspects of the job requirement, mainly including: the issuer shall establish and improve their financial report internal control system, and reasonable assurance that the reliability of the financial report, the legitimacy of the production and business operation, the operation efficiency and effect; The issuer and the relevant intermediary institutions shall ensure that disclosure of the financial information is true, accurate, complete to reflect the company's doing; Relevant intermediary institutions should pay attention to the issuer of the earnings growth during the reporting period and abnormal trading, prevent profit operation; The issuer and the intermediary organizations should be strictly in accordance with the accounting standards for enterprises ", "the listed company information disclosure management method" and the stock exchange of relevant business rules issued by the relevant provisions of the affiliated parties that, the full disclosure affiliated parties relation and trade; The issuer should be combined with the actual situation of economic transactions, careful, reasonable income to confirm and gross profit margin analysis, relevant intermediary institutions should pay attention to the authenticity of the revenue recognition, compliance and the rationality of the gross margin analysis; Relevant intermediary institutions to the issuer main customers and suppliers inspectors; The issuer should improve inventory checking system, the relevant intermediary institutions should pay attention to the authenticity of the inventory and inventory write-down provision of adequate; The issuer and the relevant intermediary institutions should pay enough attention to the issuer trading cash receipts and payment of the adverse impact of accounting basis; Relevant intermediary organizations should keep to the financial information of the abnormal sensitivity, prevent profit operation.

Three is to further improve and implement the responsibility system. Securities regulators will strengthen the financial information disclosure of illegal supervision, publisher of financial fraud, for profit operation and other major illegal activities shall be resolutely investigated and dealt with, and the relevant responsible intermediaries and relevant personnel to be punished. Securities regulators will establish initial public offerings of shares the relevant intermediary institutions bad behavior records system and into the unity of the supervision system, form the regulatory force; According to the relevant intermediary institutions of the nature of the plot and bad behavior, respectively, shall be ordered to make corrections and supervision to talk warning letter, issue, not considered right person for administrative supervision measures such as; Constitute violations, and in accordance with law, administrative punishment; Alleged crime, the judicial organs according to law, shall be investigated for criminal responsibility. The above bad behavior records and relevant supervision measures will be credited to the credit archives.

The official said the ipo financial information to disclose the relevant participation body from promoting the healthy and stable development of the capital market, strengthen the protection of the rights and investors, improve the capital market service entity economy ability height, well understand improve financial disclosure quality, the importance of further clarify duties, perfect quality control system, so as to make full, complete and accurate information disclosure as the center, according to the opinion of the work required to do a proposed initial public offerings of shares of the company's financial information disclosures.

Hits:  UpdateTime:2012-06-13 11:28:54  【Printing】  【Close
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