Source: Prism (ID: lengjing_qqfinance), Wall Street Journalist
Author |邬 川
In the A-share market, although the IPO is still accepted, it will not be important anymore. In the case of financial securities, the inspection committee will be the largest regulatory variable before the registration system.
On the night of November 27, the boots finally fell. The CSRC has published a list of 18 day commissions on the official website of the website. Before, XVII. The members of the Audit Committee have been in for 3 months. However, according to current developments, the last session of the Audit Committee will continue until mid-December to complete the change.
A member of the Tencent Inspection Committee has said that the importance of the list is the proportion of intermediaries. In the view, the signal provided by the regulator will be followed by future audits and disclosure, and financial indicators, such as net profit, will be diluted.
A person from the CSRC reveals that the reversal of the audit committee promoted by the President Liu Shiyu and the structural changes made by the audit committee were IPO reforms, but the audit concept and essential driver were also following the CSRC's will.
"There are still many supporters of the capitalist system, for example, the removal system is not perfect, it is necessary to revise high-level laws, and the lawsuits do not help," he said, but the IPO reform must be easy and difficult. Break the road
The proportion of brokers has increased, winning only 200,000 yuan per year.
There were 53 candidates for this year's list, 25 of them CSRC and Shanghai and Shenzhen Stock Exchange, from 15 accounting companies and 13 law firms.
It is worth noting that the proportion of intermediaries is more than half. In the composition of the 17th Audit Committee, the proportion of intermediaries is 38%, of which 4 are accountants only and 5 are legal companies, and even less are full time members.
At the same time, compared to the previous inspection committees, the sources of intermediaries in the list of candidates are more concentrated and focused: accounting firms and law firms, assessment entities, brokers, founding companies, universities and universities. Other organizations are excluded.
On September 14 this year, Tencent "Prism" was an exclusive report, due to the cancellation of part of the board of inspection members, and the proportion of intermediate management members to increase.
On September 30, 2005, the CSR published its "Change Regulatory Measures Measure Resolution Committee" in the afternoon and asked for public opinion. On the one hand, the evaluation of the committees between 66 and 35 was reduced and canceled at the same time. Some may be full day rules.
This means that 53% of 53 candidates must be "deleted" and the boards will be full.
At the same time, it is curious about the outside world how much time can you earn as a commercial inspection commission? Half of the partners were former executives in mediation organizations.
The aforementioned current audit committee told Tencent "Prisma" that the yearly payroll for full-time members is 200,000 yuan, with partial salary salaries and a project that can cost 300 yuan.
Members of the mediator, in full-time, must abandon their practice in the original unit. With respect to previous income, full-time wages are very low.
However, the law firm's former court judge has said he is capable of selecting a supervisory board that is capable of picking up an honor, indicating the state and professionalism of the industrial sector. "Even if money is low, everyone is ready."
How is the list of candidates selected? Duty inspection is expected
Where were the 53 nominations listed?
The above-mentioned audit commission said Tencent "Prisma", in general, CSRC will announce the most important sector-based organizations to start the process of recording in September and October. Then, according to the size of business securities, the association allows the registration of top brokers. "Mediation organizations submitted a project and sent an association, after the first election of the industrial association, will be summarized by CSRC."
Many brokerage investment banks have said they will increase the number of brokers that will bring more market power and expect a new audit committee and confidence to concentrate, not only net profit and other financial indicators.
An investment organization believes that the broker is making a magnifying glass to analyze the financial data of the company. In search of old data, the concept of inspection is increasing and the judgment of the future is still needed. "The meeting strength is still strong."
For that purpose, the aforementioned review committee did not agree. He believes that the global capital market, audits review review and monitoring of information disclosure. "It will be the fulfillment and trust of the increase of the intermediaries, and it will require the company to fulfill better". Nobody is known by accountants and lawyers.
The Supervisory Board focuses on the company's audit headquarters, focuses on the historical evolution of the company, which is why China's history is more complicated and the company's system is relatively short. "The company's law was only established in the 1990's, so the CSRC's request for verification of the company's history is understandable."
He also stressed that the value of the company should be given to investors, if it returned to the company that judges the value, it would be "a delay in the IPO review."
IPO kidnapped lakes ebbs to get partial members out of stage
Another question why the new audit committee session was suspended by part-time members?
The aforementioned audit committee revealed that the number of audit committees has decreased.
"Because the net profit margin has risen," many offshore companies have ruled out and the IPO range's lake phenomenon has been alleviated. "As soon as the number of pending projects is reduced, there is no need to have so many partners, and the full-time membership rate is not saturated. There is no need to be a part-time member, secondly, there are too many commercial committees, and the accounting office, legal office and They need to turn the securities supervisory system into a full-time business capability.
According to Tencent, "Prisma" statistics, only 63 members participated in the review, and the other 21 parties did not participate.
Most of the participants, the National Development and Reform Commission, taxes, funds companies, brokers, universities and other organizations, were "planning to complete full-time members".
He also said that the first members of the party did not know the rules. For example, the NDRC is more aware of the logic of industry, the university knows the theory and some fund companies value more investments. 17. The performance of the part-time committee seems like Furniture.
It was revealed that the participants that participated earlier had less time. "Full-time partners will perform four or five tests and part-time members will open a test meeting".
Because of this, due to the high level of reluctance to today's IPOs, members of the full time committee can tighten the current pace, and objectively do not need part-time members.
Attachments: 18. List of candidates for the Audit Committee
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Original title "New Candidate Candidates New List | Prism"
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