南山公司成立于1998年,主营业务为中药研发、生产和销售,现成为一家销售网络遍布各地的医药公司。2011年初,公司股东大会决定筹备公司上市申请事宜。为了进一步完善公司治理,股东大会重组了董事会,引入3名独立董事。改组后的董事会包括7名成员,董事会主席由公司总经理翟某担任,并成立了审计委员会等4个专业委员会。审计委员会由3人组成,分别是独立董事某大学会计学教授李某、独立董事卫生管理部门退休医学专家张某和公司董事兼财务总监赵某。
一年来,独立董事张某就公司战略制定、总经理任免和公司高管薪酬发表了独立意见。独立董事李某就公司内部控制、风险管理和大股东占用公司资金问题发表了独立意见。
审计委员会成立一年来开展了一系列的工作:召开了1次审计委员会会议,讨论建立健全公司内部控制事宜;与内部审计师、总经理一起讨论公司内部控制缺陷事宜;向董事会建议由甲会计师事务所为公司提供年报审计服务,因为卓越会计师事务所(ExcellentAccountingCo.)今年初已经为公司提供了验资服务,董事会以损害审计的独立性为由否决了该提案。
(1)南山公司审计委员会组成的缺陷:
①审计委员会应该全部由独立、非执行董事组成,他们应拥有相关的财务经验,所以张某和赵某都不应该成为南山公司审计委员会委员。
②作为前卫生部退休医学专家,张某缺乏相关的财务经验,不具备在审计委员会中的专业胜任能力。
③公司董事兼财务总监赵某进入审计委员会违反了审计委员会的独立性原则。
审计委员会日常工作存在的问题有:
第一,审计委员会每年应至少召开3次会议,并于审计周期的主要日期举行。南山公司审计委员会一年中只召开1次会议,次数太少。
第二,审计委员会在与内部审计师见面讨论审计相关事宜时,管理层不应在场。南山公司总经理参与审计委员会和内部审计师会谈,损害了审计委员会的独立性,影响了工作质量。
第三,董事会以损害审计的独立性为由否决了审计委员会提案的做法错误。外部审计师的独立性,是指他们在为公司提供审计服务的同时,没有向公司提供某些可以影响其独立性的非审计服务。
(2)南山公司独立董事的职责中所包含的四种角色及体现情况:
①战略角色。公司独立董事张某对公司战略提出了建议,体现了独立董事的战略角色。
②监督或绩效角色。公司独立董事李某就大股东占用公司资金问题发表意见体现了监督角色。
③风险角色。公司独立董事张某就公司内部控制、风险管理方面发表意见,有利于公司设有充分的内部控制系统和风险管理系统。
④人事管理角色。独立董事张某就总经理任免和公司高管薪酬发表了意见,体现了人事管理角色。
英文
(1) Defects of the composition of Nanshan Company’s audit committee are as follows:
The audit committee should be composed of independent, non-executive directors, and they should have relevant financial experience. So Zhang and Zhao should not become members of Nanshan Company’s audit committee.
As a former medical expert of Ministry of Health, Zhang lacks relevant experience in finance, which makes him lack of professional competence for the audit committee.
As a director and chief financial officer, Zhao being a member of the audit committee has violated the principle of independence of the audit committee.
The problems of the daily work of the audit committee are as follows:Firstly, the audit committee should at least convene three meetings annually, which should be held on the key dates of the audit cycle. Nanshan Company’s audit committee has convened only one meeting for the year, which is not frequent enough.
Secondly, management should not present when the audit committee discussed audit matters with the internal auditors. The involvement of Nanshan’s General Manager in the meeting between the audit committee and internal auditor damaged the independence of the audit committee, which may affect the quality of the Committee’s work.
Thirdly, because of the perceived independence violation, the board of directors turned down the proposal of the audit committee. The decision of the board is wrong. In order to remain independence, the external auditor should not provide any non-audit service that could adversely affect his independence. Capital verification service is a non-audit service which does not affect the independence of auditor, so Excellent Accounting Co. can provide annual report audit service and capital verification service for the same company.
(2) The four different roles embedded in the duties of the independent directors of Nanshan Company:①Strategic role. Independent directors are members of the board of directors, so they have the right and responsibility to contribute to the success of the company’ strategy. As an independent director, Zhang recommended on company’s strategy, which had reflected the strategic role of independent directors.
②Supervision or accountability role. Independent directors should oversee the management’s responsibility for decision-making and performance of the company. Independent directors mitigate the agent problem of management for the interests of shareholders. As an independent director, Li expressed his view on the largest shareholder’s unauthorized utilization of the company’s funds, which had reflected the supervision role of independent directors.
③Risk management role. Independent director Zhang expressed his view on internal control and risk management of the company. This helps to ensure that the company has proper internal control system and risk management system.
④Personnel management role. Independent directors should have the duty of personnel management of executive directors. Independent director Zhang expressed his view on appointment of general manager and management compensation, which reflected his duty of personnel management.