Under the current economic environment such as market requires the expansion of the risk information disclosure, this study examined how the institutional design of the financial reporting is explored and how companies, which engaged in international business activities, correspond to the market environment changes. This study has the three following theoretical and institutional perspectives. First is the design of financial accounting system, second is the design of audit and assurance systems, and third is the tax system design. This study also executed an empirical research based on the above-mentioned theoretical and institutional perspectives.