Abstract: Internal control deficiencies is the core of internal control evaluation report, because the accurate internal control information disclosure can make investors fully understand the business situation of the enterprise. The true disclosure of the severity of the internal control deficiencies is the premise and foundation for presenting the information decision-making value. This paper is based on a sample of A shares listed companies with non-significant internal control deficiencies disclosed in Shanghai and Shenzhen stock exchanges from 2013 to 2015(four signs can be as the identification basis to determine whether there is a major internal control deficiency in companies or not) and respectively analyzes whether listed companies truthfully disclose the existing material internal deficiencies. Research shows that the listed companies have behavior choice under the system of compulsory disclosure of deficiencies，like reducing the severity of the deficiencies, material deficiencies being disclosed as important or even general deficiencies, which affects the reliability of internal control evaluation reports. Therefore, listed companies should strengthen their own internal control construction and self-evaluation work to improve the voluntary nature of the true disclosure of deficiencies; the regulatory authorities should give full play to their supervisory functions and establish a sound audit mechanism to increase penalties and the cost of violations for the problematic listed companies.

Key words: internal control information disclosure, internal control deficiencies, behavior choice