第七 論述了三種財務監督的關係與協作。主體性財務監督在整個監督體係中具有主導作用。延伸性財務監督應該為企業財務監督的初次監督，主體性財務監督為延伸性財務監督的二次監督，邊緣性財務監督是對主體性財務監督與延伸性財務監督的再監督。
本文的創新之處表現在：
（1）以大財務論觀點和利益相關者視角，提出了國有控股上市公司財務監督體係由主體性財務監督、延伸性財務監督和邊緣性財務監督構成，三者共同構成了一個有機整體，有效、合理地分配了財務監督權，為完善國有控股上市公司公司治理提供了理論基礎。
（2）梳理了眾多的近期國內外文獻，重新界定了審計委員會、財務總監、內部審計、首席財務執行官等財務監督實施者的財務監督職能和影響其實施財務監督職能的因素，為準確合理分配企業財務監督權，避免重複設置和浪費資源起到了積極作用。
（3）提出了“財務總監外部異化”的概念，並指出隻有通過有效的監事會監督，以及外部會計師事務所監督，或者國家審計署的監督，才能避免“財務總監外部異化”的生成。
（4）運用2002——2006年五年的數據對我國國有控股上市公司監事會和審計委員會、獨立董事財務監督職能作用進行實證分析研究，並對比了監事會在國有控股公司與民營企業中發揮財務監督職能的情況。在對監事會的實證研究中，一方麵，采用Kothari（2005）模型計算盈餘管理水平；另一方麵，引入監事會會議次數與獨立董事占比的交叉項，用於說明兩者的協同效益。
（5）辨析了財務總監、首席財務執行官、總會計師的聯係與區別，界定了各主體實施財務監督的定位，為實際工作開展提供理論依據。
本文的不足：
筆者雖然從理論和實證兩個方麵對國有控股上市公司財務監督體係做出了嚐試性的、創新性的研究，取得了一定的成績，但由於時間局限和數據取得的有限，有些方麵今後還有待進一步地深入研究。
關鍵詞：財務監督 審計委員會 監事會 內部審計
ABSTRACT
There are many researches about financial decision， financial control， financial incentive， whereas the research about financial oversight is few. This article focuses on how the rights of financial oversight are distributed， controlled， harmonized and balanced among owners， managers and stakeholders in the listed state-controlled companies. Besides， there are many cases involved in financial oversight in real life， such as bankruptcy of Eron and WorldCom in 2002， collapse of financial institutes and negligence of financial oversight organizations in 2009， and the lack of financial oversight from State-Owned Assets Management Committee （owners）. This article shows the financial oversight system in state-controlled companies based on “Big Finance”， oriented by the interests of stakeholders， and focuses on function of financial oversight organizations. The financial oversight system includes the main financial oversight， the outspread financial oversight and the marginal financial oversight. The main financial oversight represents the owners’ interests. The owners must effectively monitor the financial behavior of managers in order to add value to their own capital. Therefore， owners’ finance is established. The main financial oversight includes supervisory board’s financial oversight， audit committee’s financial oversight and financial supervisor’s financial oversight. The outspread financial oversight represents the interests of managers. The managers entrust the resources of companies to the different units and they have to prevent the fraud of employees and monitor whether the trustees use the capital reasonably and utilize the liabilities effectively， and decrease the financial risk in different units in order to implement the accountability. Therefore， the managers’ finance is set up. The outspread financial oversight includes internal audit’s financial oversight and chief finance office （CFO）’s financial oversight. The marginal financial oversight is supplementary oversight of the main financial oversight and the outspread oversight. It represents interests of investors， creditors as well as other stakeholders. The marginal financial oversight includes public media’s financial oversight， public accountants’ financial oversight， and tax authorities’ financial oversight.