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论文编号：	14183
作者编号：	2320213541
上传时间：	2023/12/7 18:58:51
中文题目：	X公司首次公开发行失败内部控制问题研究
英文题目：	Internal Control Research on the failure of X Company IPO
指导老师：	陆宇建
中文关键字：	关键词：创业版；注册制；首次公开发行；内部控制 ；控制环境
英文关键字：	Growth Enterprise Market；Registration System；IPO；Internal Control；Control Environment
中文摘要：	2009年我国创业板开市，秉承服务创新型、成长型企业的使命，坚持创新定位，为暂时不满足主板上市要求但拥有巨大潜力的公司走向资本市场提供机会。2020年8月24日创业板实施注册制改革，把科技创新摆在更突出的位置，为促进科技资本和实体经济贡献力量。截至2023年6月创业版上市公司1282家，总市值已达12.23万亿元，为经济增长提供动力。同时创业板注册制改革以来，创业板申请上市的企业1,000余家，但已成功上市的企业不足50%，仍有众多公司因不满足发行条件而上市失败。为此，创业板注册制背景下企业上市失败问题是一项需要研究的课题。 本文以X公司首次公开发行（IPO）为例，从其在创业板申报至最终撤回申请材料，最终上市失败为着手点。结合X公司基本情况，创业板首发申报要求，深圳交易所问询以及X公司反馈等财务业务数据，从内部控制角度分析其上市失败的原因，然后针对性提出改善建议。 研究发现，X公司主要存在三项内部控制问题。第一，财务报告内部控制循环存在的问题，导致收入确认、股份支付和薪酬确认均未能恰当列报，使财务报告不能公允反映公司的财务状况和经营成果。第二，控制环境存在严重缺陷，导致与信息系统相关和与销售业务相关内部控制未能有效执行，使内部控制被管理层逾越。第三，信息披露内部控制未有效执行，导致与资金活动相关信息披露不真实，与研发活动相关信息披露不完整，使公司信息披露未达到真实性、准确性和完整性要求。 基于以上问题，本文提出针对性建议。第一，完善财务报告内部控制的建立和执行，完善财务报告的编制及审核流程，提高财务人员素质，明确财务报告职责分工。第二，改善公司控制环境基础，规范公司控制环境，促进改善控制环境的举措落地实施。第三，加强信息披露能力建设，高度重视信息披露，增加信息披露质量，明确信息披露职责分工。 论文通过研究X公司上市失败存在的内部控制问题，为拟创业板上市公司提供借鉴。
英文摘要：	In 2009, China's GEM opened, adhering to the mission of service innovation, growth enterprises, adhere to the innovative positioning, for the temporary does not meet the main board listing requirements, but has great potential to provide opportunities to the capital market. On August 24, 2020, the GEM implemented the registration system reform, placing scientific and technological innovation in a more prominent position, and contributing to the promotion of scientific and technological capital and the real economy. As of June 2023, there are 1,282 listed companies in the entrepreneurial version, with a total market value of 12.23 trillion yuan, providing impetus for economic growth. At the same time, since the reform of the GEM registration system, more than 1,000 enterprises have applied for listing on the GEM, but less than 50% of the enterprises have successfully listed, and there are still many companies that fail to list because they do not meet the issuance conditions. Therefore, the failure of enterprise listing under the background of GEM registration system is a subject that needs to be studied. This dissertation takes X Company's IPO as an example, from its application on GEM to the final withdrawal of application materials, and the final listing failure as the starting point. Based on X Company's basic situation, GEM IPO reporting requirements, Shenzhen Stock Exchange inquiry and X Company's feedback and other financial business data, this dissertation analyzes the reasons for its listing failure from the perspective of internal control, and then puts forward targeted suggestions for improvement. The study found that X company mainly had three internal control problems. First, the problems existing in the internal control cycle of financial reporting lead to the failure of revenue recognition, share payment and compensation recognition to be properly presented, so that the financial report can not fairly reflect the company's financial status and operating results. Second, there are serious defects in the control environment, resulting in the failure to effectively implement internal controls related to information systems and sales business, so that internal controls are overstepped by the management. Third, the internal control of information disclosure is not effectively implemented, resulting in the disclosure of information related to capital activities is untrue, and the disclosure of information related to research and development activities is incomplete, so that the company's information disclosure does not meet the authenticity, accuracy and completeness requirements. Based on the above problems, this dissertation puts forward specific suggestions. First, improve the establishment and implementation of internal control of financial reports, improve the preparation and audit process of financial reports, improve the quality of financial personnel, and clarify the division of responsibilities in financial reports. Second, improve the basis of the company's control environment, standardize the company's control environment, and promote the implementation of measures to improve the control environment. Third, strengthen the capacity building of information disclosure, attach great importance to information disclosure, increase the quality of information disclosure, and clarify the division of responsibilities for information disclosure. By studying the internal control problems of X company's listing failure, this dissertation provides reference for companies planning to list on GEM.
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