When the audit committee has doubts about some problems existing in the company, these problems are not enough to make the company rejected. The audit Committee has different opinions on these issues, but it can't reach an agreement within 45 minutes of the hearing, and the company's employees can't convince the issuer in a short time. In this case, the voting will be suspended and the company will be given the right to vote. I will give the company some written reply and feedback in a few days.
Extended data:
1. Institutional setup of China Securities Regulatory Commission.
Two committees
Stock issuance review Committee
According to the relevant laws, administrative regulations and the provisions issued by the China Securities Regulatory Commission, examine whether the application for stock issuance meets the relevant conditions; Review the relevant materials and opinions issued by securities service institutions such as sponsors, accounting firms, law firms, asset appraisal institutions and relevant personnel for stock issuance; Review the preliminary report issued by the relevant functional departments of China Securities Regulatory Commission; Put forward examination opinions on the application for stock issuance according to law.
Administrative punishment Committee
Formulate rules for identifying illegal acts of securities and futures, hear cases transferred by inspection departments, preside over hearings in accordance with legal procedures, and formulate opinions on administrative punishment.
production department
According to the above responsibilities, China Securities Regulatory Commission has 13 functional departments:
head office
The office of the Advisory Committee is located in the general office, providing services for international and domestic consultants hired by the China Securities Regulatory Commission and undertaking the work assigned by the Advisory Committee.
Distribution supervision department
Drafting the rules and implementing rules for domestic enterprises to issue securities at home and abroad; Review the application materials for domestic enterprises to directly or indirectly issue stocks and convertible bonds at home and abroad, and supervise their issuance activities; Review the application materials for listing corporate bonds; Supervise the related activities of overseas listed Chinese-funded enterprises according to regulations.
Growth enterprise market issuance supervision department
Formulate laws, regulations and detailed rules for the issuance of GEM securities; Review the application materials of enterprises that have made initial public offerings and listed on the GEM; Review the application materials for the issuance of securities in China by listed companies on the GEM.
Supervise the issuance of GEM securities; To supervise the sponsorship business related to the issuance and listing of GEM enterprises by sponsors and sponsors' representatives; Cooperate in formulating the rules of the GEM issuance audit committee, and be responsible for the establishment and operation of the GEM issuance audit committee.
Supervision department of unlisted public companies
To formulate rules and detailed rules for public offering of unlisted shares by joint stock limited companies; Review the application materials for public offering of unlisted shares by joint stock limited companies and supervise their issuance activities.
Approve the application for the establishment of a joint stock limited company by public offering; To formulate the rules and implementation rules for the public offering of unlisted joint stock limited companies, and supervise the information disclosure; Responsible for the identification, investigation and related organization and coordination of illegal securities issuance and illegal securities business activities.
Market supervision department
Drafting the regulatory rules and implementation rules for securities (except unlisted treasury bonds and corporate bonds, the same below) trading, liquidation, registration and custody; Review the establishment of securities trading, liquidation, registration and custody institutions and supervise their business activities; Review the articles of association, business rules and listed varieties of the stock exchange; Analysis of domestic and foreign securities trading markets; Supervise the dissemination of domestic securities and futures market information.
Agency supervision department
Drafting regulatory rules and detailed rules for securities operating institutions and investment consulting institutions; Review the establishment of various securities operating institutions and investment consulting institutions and their qualifications to engage in securities business, and supervise their business activities.
Examining the qualifications of senior managers of securities operating institutions and investment consulting institutions and supervising their business activities; Examining the institutions established by domestic institutions to engage in overseas securities business; To examine the securities business institutions established by overseas institutions in China and supervise their business activities.
Risk management office
To organize research and draft policies, regulations and work plans for risk monitoring, disposal and reorganization of securities companies; Guide, coordinate and supervise the risk monitoring, disposal and reorganization of securities companies; Communicate and coordinate with relevant ministries and local governments on major issues, and organize Shanghai and Shenzhen Commissioner's offices, agencies and relevant intermediaries to participate in the risk monitoring and disposal of securities companies; Other assigned tasks.
2. Relevant laws and regulations
The issuance audit committee system is an important part of the issuance supervision system. According to the provisions of Article 22 of the Securities Law, the State Council Securities Regulatory Authority has set up an issuance examination committee to examine the application for stock issuance according to law.
Since its operation, the IEC system has played an important role in attracting experts outside the CSRC to participate in the audit work, giving full play to the role of experts, improving the quality of the company from the source, strengthening the supervision of the issuance audit work, and improving the credibility of the issuance audit work.
However, with the change of the situation, IEC system needs to be further improved. After publicly soliciting market opinions in the early stage, it absorbed useful suggestions from the market, especially in strictly controlling the quality of audit information disclosure, further standardizing the operating mechanism of audit power, and preventing power rent-seeking. Optimize the institutional mechanism and organizational structure.
Baidu Encyclopedia-People's Republic of China (PRC) Securities Law
Baidu Encyclopedia-China Securities Regulatory Commission
Baidu Encyclopedia-China Securities Regulatory Commission Issuance Audit Committee