公众公司财务信息的阳光传递（The public financial information company Sun Transmission）.docVIP

公众公司财务信息的阳光传递（The public financial information company Sun Transmission） The public company financial report and information disclosure is one of the core mechanisms to maintain the effective operation of capital market. But in recent years, both in the capital market is highly developed countries and regions (such as the United States), or in the emerging market countries and regions (including China), all had a series of high-profile false reports and fraud, which exposed worldwide have serious deficiencies in financial reporting system of the public company. The purpose of this paper is to study the disclosure of public company financial reporting, analysis and interpretation mechanism. It is from the company after the public authority (the general meeting of shareholders, board of directors) approved audited financial report (approved audited financial reports) produced, until to investors as the representative of the financial report users before the process of a series of institutional arrangements. Strictly speaking, it refers to the organization can be classified as capital market intermediary organization category, including the media, financial institutions, securities analysis of credit rating agencies. They provide in the financial reporting process, can effectively realize the value of information transmission and value-added. But that they are easy to ignore. The reason may have at least the following points: (1) they are not as common as financial reporting standards, audit directly or indirectly through the financial report legislation or regulatory system compulsory embedded public companies to produce and provide the process; (2) if it is not based on investor protection, starting from the concept of useful the decision on the financial report of end users, the concept of value, it is easy to produce and provide the financial reporting process and export end point on the financial report has been approved by the audit, not pay attention to after th