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John Wiley and Sons, Third Edition.Internal Control and Earnings Quality—the Empirical Evidences Based on Ashare Companies in 2007Zhang Guoqing(Center for Accounting Studies/Accounting Department of Xiamen University, Xiamen, Fujian, 361005, China)Abstract: One of the pany’s aims to establish and improve internal control is to reasonably assure the integrity, reliability, and pleteness of financial reporting. Using Ashare panies excluding financial industry in 2007 as sample, this study investigates the association between internal control and earnings quality. As assumed, the panies which voluntarily provide positive selfevaluation report on internal control and get unqualified attestation opinion of independent CPA or sponsor represent highquality internal control. We find that highquality earnings do not acpany with highquality internal control, the improvement of internal control quality does not lead to upgrading of earnings quality, and that some innate firm characteristics and governance factors do systematically affect the internal control and earnings quality. In our opinions, the listed panies which provide positive selfevaluation report on internal control and attain unqualified attestation opinion of independent CPA or sponsor do not necessarily mean highquality internal control. It is suggested that we should establish a set of internal control standards, try to constitute internal control attestation standards, and strengthen the supervision