摘要:財(cái)務(wù)報(bào)告作為上市公司對(duì)外信息披露的主要載體，是監(jiān)管機(jī)構(gòu)和投資者獲得公司會(huì)計(jì)信息的重要途徑。然而，自20世紀(jì)90年代以來，隨著資本市場(chǎng)的快速發(fā)展，上市公司因?yàn)橄惹芭兜呢?cái)務(wù)報(bào)告存在虛假或誤導(dǎo)性的財(cái)務(wù)信息或者信息遺漏等問題，導(dǎo)致財(cái)務(wù)報(bào)告重新表述（即財(cái)務(wù)重述）的現(xiàn)象日漸頻繁。我國(guó)重大會(huì)計(jì)差錯(cuò)更正事項(xiàng)屢見于企業(yè)財(cái)務(wù)報(bào)告，但由于我國(guó)還沒有建立保障會(huì)計(jì)差錯(cuò)更正準(zhǔn)則得以有效遵循的支撐系統(tǒng)，與歐美國(guó)家公司由于會(huì)計(jì)差錯(cuò)更正引起的財(cái)務(wù)重述相比，有著更多問題值得探討。

　　　因此，本文對(duì)財(cái)務(wù)重述當(dāng)前的相關(guān)研究進(jìn)行了梳理、回顧，著重從財(cái)務(wù)重述的經(jīng)濟(jì)后果、動(dòng)因和影響因素等方面進(jìn)行探討，對(duì)現(xiàn)有文獻(xiàn)存在的問題和不足之處進(jìn)行評(píng)價(jià)，提出財(cái)務(wù)重述研究在理論研究方面的積極意義，為企業(yè)的發(fā)展和解決企業(yè)財(cái)務(wù)重述問題提供決策依據(jù)。

關(guān)鍵詞: 財(cái)務(wù)重述；公司治理；信息質(zhì)量

Abstract:The financial report of listed companies is the main carrier of foreign information disclosure, regulators and investors to take the company accounting information of important ways. However, since the 1990 s, with the rapid development of capital markets, the listed company for the former financial disclosure report exist false or misleading financial information or information neglected and lead to financial report to paraphrase (namely the financial restatement) phenomenon increasingly frequent. Our country the correction of big accounting errors matters in enterprise financial report repeatedly, but because our country have not established security accounting errors is effectively follow correct standards for the support of the system, and the European and American countries for accounting errors caused by the financial restated correction, compared with more problems should be discussed. 

　　　Therefore, this paper studies the current financial restated the reviews, review, emphatically from the economic consequences of financial restatement of the motive and the influence factors, this paper discussed, to the existing literature existing problems and disadvantages of the evaluation, puts forward the financial restated in the aspect of theory of positive significance to the development of the enterprise and solve the problems of enterprise financial restated provide decision-making basis. 

Key words: Financial restatement；Corporate governance；Information quality

　　　目前國(guó)內(nèi)對(duì)于補(bǔ)充及更正公告的研究尚處于探索階段。已有研究著重于對(duì)年報(bào)補(bǔ)充更正現(xiàn)象的簡(jiǎn)單描述性統(tǒng)計(jì)，分析工具相對(duì)簡(jiǎn)單，對(duì)補(bǔ)充及更正公告的動(dòng)機(jī)揭示、市場(chǎng)反應(yīng)等重點(diǎn)問題尚未進(jìn)行深入研究。在我國(guó)“年報(bào)補(bǔ)丁”現(xiàn)象日趨頻繁的情況下，結(jié)合我國(guó)特殊的制度背景和上市公司的具體情況，深入研究財(cái)務(wù)重述并用于指導(dǎo)實(shí)踐顯得極為必要。我們認(rèn)為，我國(guó)財(cái)務(wù)重述未來研究的方向可能包括：（1）財(cái)務(wù)重述的案例研究。雖然GAO（2002）[15]和GAO（2006）[16]對(duì)若干上市公司的財(cái)務(wù)重述現(xiàn)象進(jìn)行了專門分析，但僅限于列示相關(guān)數(shù)據(jù)，并未揭示案例所隱藏的內(nèi)涵，因此，并不能稱為真正的案例研究。針對(duì)特定時(shí)間、特定情境下某些公司的財(cái)務(wù)重述現(xiàn)象進(jìn)行專門的案例剖析，挖掘其財(cái)務(wù)重述動(dòng)因、發(fā)展脈絡(luò)和結(jié)果具有重要的借鑒和指導(dǎo)意義。（2）財(cái)務(wù)重述的可能性預(yù)測(cè)。現(xiàn)有研究在財(cái)務(wù)重述影響因素研究方面已經(jīng)取得一定成果，那么，如何進(jìn)一步地對(duì)可能財(cái)務(wù)重述的公司進(jìn)行判別和預(yù)測(cè)將是下一個(gè)重要課題，這將有助于識(shí)別財(cái)務(wù)重述公司以及為監(jiān)管當(dāng)局決策提供依據(jù)。（3）財(cái)務(wù)重述的動(dòng)因剖析和市場(chǎng)反應(yīng)。前者探究財(cái)務(wù)重述背后隱藏的行為動(dòng)機(jī)，后者無疑是財(cái)務(wù)重述得到重視的前提。深入研究財(cái)務(wù)重述的這兩個(gè)關(guān)鍵問題，可以為我國(guó)財(cái)務(wù)重述制度的完善提供思路。（4）財(cái)務(wù)重述的跨國(guó)比較研究。對(duì)不同國(guó)家和制度背景下的財(cái)務(wù)重述進(jìn)行研究，尋找財(cái)務(wù)重述現(xiàn)象的共性與特性并發(fā)現(xiàn)某些規(guī)律，從而為我國(guó)財(cái)務(wù)重述監(jiān)管及其制度建設(shè)提供借鑒，比如在財(cái)務(wù)重述泛濫及其后果惡劣的極端情況下甚至可以關(guān)閉財(cái)務(wù)重述這個(gè)“通道”。