金融機構公司治理之內部控制機制

Financial Institutions' Internal Control Mechanisms & Corporate Governance

廖文華(Wen-Hua Liao)

指導教授 ： 馮震宇

中原大學/商學院/財經法律研究所/碩士(2005年)

https://doi.org/10.6840/cycu200500103

摘要

摘要
自從二０００年以降，Enron案和一系列企業弊案促使公司治理議題再次受到廣泛關注，美國更制訂沙氏法案（Sarbanes-Oxley Act），以回應對公司治理法制改革的殷切需求。為了符合國際趨勢，並且處理我國層出不窮的企業淘空與財務報表弊端醜聞，我國亦開始一連串的公司治理法制建構發展。
金融機構為高度管制產業，管理資產遠較一般企業龐大，其資金亦非如一般企業主要來自於股東。而個別金融機構的危機往往會形成系統性風險，而破壞整體經濟秩序。凡此種種均顯示金融機構對於公司治理之需求更加迫切，以及金融機構公司治理之特殊性，與一般企業公司治理偏向公司股東利益之保護有別，而需同時著重其他資金提供者與公眾利益之維護。其公司治理措施與標準亦應較一般企業公司治理機制周密且嚴格。
我國金融產業弊端頻傳，過於倚賴政府外部監控，金融監督管理機關的資源也往往集中於金融弊端發生後的事後處理機制。然而政府對金融體系干預過度，除了使金融機構本身忽略了自身應盡的責任，實證也顯示外部監控與事後處理機制的成本耗費過鉅，卻成效不彰。金融機構本身的公司治理內部控制機制乃是防止弊端的第一線，縱然金融監理機關的外部監控行為，絕大多數仍透過場外監控之方式為之，其良窳端賴金融機構高標準之公司治理措施與財務報告之完整正確。因此金融監理機關的首要之務乃是建構以內部控制機制與事前問題預防機制為核心的公司治理法制架構，以降低監理成本，並提升監理成效。
本文擬自比較法觀點，研究分析美國與英國之金融機構公司治理法制，並對我國金融機構公司治理法制提出具體改革建議，以期做為我國日後建構完整金融機構公司治理法制之參考。

關鍵字

金融機構 ； 公司治理 ； 內部控制 ； 防火牆

並列摘要

Abstract
Since the year 2000, the Enron case and a series of corporate scandals caused widespread concern on the issue of corporate governance. The United States enacted the Sarbanes-Oxley Act in response to the strong demand of legal framework reform regarding corporate governance. To conform to the international trend and to deal with the corporate scandals in financial statements that emerge in endless streams, Taiwan also started to construct and develop a series of corporate governance legal framework.
Financial institutions are highly restrained. They manage much greater assets than normal corporations and unlike normal corporations, the assets of financial institutions does not come from shareholders mainly. A financial institution’s crisis often causes systematic risk and would damage the entire economical order. All these reasons reveal that financial institutions are in more desperate need of corporate governance than normal corporations. The corporate governance of financial institutions is particular in that it differs from normal corporate governance, which emphasizes on the protection of shareholders’ interests. Financial institutions also have to focus on the protection of the interests of other capital providers and the public. The corporate governance measures and standards should be more complete and strict than those of normal corporations.
There are growing numbers of scandal in the financial industry in Taiwan. We are too dependent upon government’s external supervisory. The resources of financial supervisory authority are all too concentrated in the post-crisis problem solving mechanisms. However, government’s over intervention in the financial system not only causes financial institutions to neglect their responsibility of internal control, it is also proof that external supervisory and post-crisis problem solving mechanism are both expensive and inefficient. The internal control mechanisms of financial institutions are the front line in the prevention of corporate scandals; even the external supervisory acts mostly rely on off-sites methods. Moreover, the accuracy and effects of external supervisory acts are determined by the standards of corporate governance measures and the integrity and truthfulness of the financial statements. Hence the first priority of financial supervisory authority is to construct a corporate governance legal framework that centers on internal control and beforehand problem preventing mechanisms to reduce supervisory costs and improve the effects.
Therefore, this study intends to analyze the corporate governance framework of financial institutions in US, and UK and to make some feasible suggestions on reformation of our corporate governance regulations for reference in constructing a comprehensive corporate governance legal framework.

並列關鍵字

corporate governance ； financial institution ； internal control ； firewall

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