Zhongxin Finance, March 23. Recently, Shandong Securities Regulatory Bureau released the "Notice on Issues Related to Initial Public Offering and Listing Guidance in the Jurisdiction".
The circular showed that individual counselors lacked integrity, did not abide by the discipline of the examination room during the securities market knowledge test, and what was more, did not stop cheating even after repeated reminders and dissuasion by supervisors.
According to the above report, Shandong Securities Regulatory Bureau has sorted out the problems found in the guidance and supervision since 2015, and found that some of the guidance objects failed to establish a correct concept of enterprise listing, and failed to completely solve the relevant problems affecting the issuance and listing before the application. The situation of reporting illness and rushing to occupy a seat.
Specifically, individual counselors failed to firmly establish the awareness of integrity, self-discipline and the rule of law when entering the securities market.
One is that individual counselors lack integrity and do not follow the discipline of the examination room during the securities market knowledge test. What’s more, they still do not stop cheating even after repeated reminders and dissuasion by supervisors; second, individual counselors use social status Not participating in the coaching training due to high, busy work, or applying for exemption from the securities market knowledge test if the exemption conditions are not met; third, individual coaches failed to earnestly study the relevant laws, regulations and business rules for standardized operation, and the results of the securities market knowledge test There is a big gap from the qualified line; fourth, the information provided by individual counselors to counseling agencies and other intermediaries is incomplete and inaccurate. Violations of laws and regulations involving counseling objects, etc.
The corporate governance level of some coaching objects has not been significantly improved, and there are still problems such as irregular operation of the "three meetings" and weak independence.
First, the minutes of the "Three Meetings" meeting of some coaching objects are incomplete, and the key points of the participants' speeches, absentees and entrusted personnel are not recorded. Insufficient, inadequate internal audit procedures, and no traces of work; thirdly, before the occurrence of related party transactions, some counselors failed to submit them to the board of directors or shareholders’ meeting for deliberation in a timely manner in accordance with the rules of procedure, but instead reviewed related party transactions during the reporting period before reporting. The independent directors and supervisors failed to perform their duties diligently, and the checks and balances in the operation of the “three meetings” were weakened; fourth, the individual counselors still had problems of lack of independence in terms of personnel, finance, etc., and the controlling shareholders were automatically collected. Guidance object funds, participating in the investment and financing management of the counseling object, assessing the executives of the counseling object, sharing administrative affairs personnel with the counseling object, etc.
Individual counselors failed to fully evaluate and comprehensively consider the impact of equity changes on issuance and listing, resulting in passive listing application.
First, individual counselors adjusted their shareholding structures during the reporting period, resulting in the change of the actual controller and the counseling objects did not meet the issuance conditions; second, the previous equity changes of individual counselors failed to comply with the filing or approval procedures of the relevant departments, and the relevant procedures Replenishment and improvement took up a lot of time and energy; third, individual counselors failed to properly resolve matters such as equity holdings, VAM agreements, etc., which affected the stability of the company's equity structure, and equity disputes or potential equity disputes had a negative impact on the company's declaration.
At the internal control level, the problem of "emphasizing system construction and neglecting system implementation" has not been completely eliminated, and irregularities in key internal control links such as financial management, capital payment, and safety production are still widespread.
First, some of the counseling objects have irregular financial internal control such as on-lending, bill financing without real trade background, related-party funds borrowing, personal account collection, third-party payment, etc. during the counseling period. The rectification of non-standard matters has not been completed; the second is that the purchase payment, expense reimbursement and other matters have not been approved in strict accordance with the capital management authority, and the inventory has not been regularly checked and counted in strict accordance with the inventory management requirements; the third is safety production, environmental protection, etc. There are deficiencies in the internal control of the Company, and there are still administrative penalties during the reporting period and even the audit period.
Some tutoring objects have irregular accounting work during the tutoring period.
First, the financial vouchers are incomplete, or some of the voucher elements are incomplete. For example, the income confirmation voucher is not attached with the customer acceptance voucher and receipt, and the receipt has no customer signature or date of receipt. Second, the incompatible positions are not completely separated, such as cashier. Part-time financial accounting related responsibilities, participate in bookkeeping, etc.; thirdly, some counseling objects have accounting problems such as insufficient depreciation, unclear cost accounting, and inaccurate collection of research and development expenses; fourthly, the relationship between counseling objects and related parties The financial transactions between the two companies have not been accounted for.
The quality of information disclosed by some counseling objects is not high, mainly in the following situations: First, individual counseling objects conceal violations of laws and regulations, and counseling institutions fail to detect them in time due to inadequate verification work or lack of effective means of verification; second, the disclosure of relevant amounts of individual matters Inaccurate, such as the amount of financial irregularities required to be disclosed in the audit Q&A; third, the disclosure of individual matters is incomplete, such as related parties and related transactions, asset property defects, etc.; fourth, selective disclosure, such as illegal disclosure of counselors The relevant work experience of the violation has not been fully disclosed, etc.
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