中歐上市公司審計監管合作法律問題研究

Legal Issues on the Sino - European Cooperations between the Oversight Authorities of Auditors for Listed Companies

審計是上市公司信息披露質量的保證，對於完善公司治理結構具有重要意義；資本流動的全球化使得上市公司審計監管的國際合作十分必要。就此而言存在著兩種主要模式：以美國薩班斯法為代表的信任本國和域外監管模式，以及以歐盟公司法第8號指令為代表的相互信任和母國監管模式。歐盟於2011年對我國上市公司的審計監管制作出等效性認定，為中國和歐盟成員國的合作開了重要條件，也對中美談判產生了積極影響。中國應充分利用歐盟的等效性認定，完成與歐盟成員國的談判並締結工作安排，完善有關立法，並聯合歐盟應對美國的聯合檢查要求。Audit service is the importance guarantee of the quality of information disclosure by the public compa-nies. It constitutes a vital aspect to the improvement of the corporate governance. The internationalization of the capital flowing results in the cross-border audit service, and makes it necessary to cooperate with each other for the oversight authorities of auditors. There are mainly two models on this aspect： the reliance on the own country's regulator and the extraterritorial jurisdiction of the America Sabanes-Oxlex Act, and the mutu-al reliance and home country regulation doctrine of the new EU 8th Company Directive of 2006, which re-spectively represent the unilateralism and multilateralism.The European multilateralism is more favorable in terms of the protection of chinese national interest. The decision of equivalence of Chinese public oversight,quality assurance, investigation and penalty systems for auditors and audit entities given by European Com-mission in 2011 marks a significant step for the Sino-European cooperation on the audit regulators, bringing positive influence on the Sino-US negotiation on the matter. Chinese authority should make full use of the Eu-ropean decision, finish the mutual negotiations and sign working arrangements with the member states. It will be helpful for Chinese authority to improve its regulations and get the adequacy decision of EU. China should resist, jointly with EU, the position of joint inspections of US.