| 181 | 3 | 645 |
| 下载次数 | 被引频次 | 阅读次数 |
本文基于2015～2016年A+H股1企业及配对企业的年报数据,从应计盈余管理角度,应用DID-PSM2模型,探究2016年底颁布的《中国注册会计师审计准则第1504号——在审计报告中沟通关键审计事项》等12项准则(以下简称新审计报告准则)初次实施对审计质量的影响,并进一步引入2017年年报数据,追踪分析改革进一步扩张对审计质量的影响效应。研究发现,审计报告改革的首次实施对应计盈余管理具有显著的抑制作用,从而对应计盈余管理表示的审计质量有显著的提高,改革取得了初步积极的效果;而在进一步扩张到所有A股企业后,对于和A+H股有类似企业特质的A股企业(PSM样本)及国有A股企业的审计质量提高作用较为显著,但是对非国有A股企业审计质量的提高作用不显著,说明改革效果依旧存在局限性。通过替换因变量及假设调整改革时间进行重新检验,结果显示本文的研究结论是稳健的。
Abstract：Based on the annual reports of A-and H-share cross-listed enterprises and a matched sample of enterprises in 2015-2016 and using the difference-in-difference(DID)and properpensity score matching(PSM)methods,this paper examines the impact of the initial implementation of the set of 12 new audit reporting standards contained in"Auditing Standards for Chinese Certified Public Accountants No. 1504—Communications of Critical Audit Matters in the Audit Report"(hereinafter, referred to as the new audit reporting standards),which were issued at the end of 2016,on audit quality as measured by accrual earnings management. In addition,we use the latest 2017 annual reports to further analyze the impact of subsequent implementation of the reforms on audit quality. We find that the initial implementation of the reforms significantly inhibits accrual earnings management,indicating significant improvement in audit quality and initial success of the reforms. Nevertheless,after the reforms are subsequently implemented to all A-share enterprises,we find differential effects of the reforms on state-owned and non-state-owned enterprises. Specifically,state-owned A-share enterprises like those A-and H-share cross-listed enterprises sharing similar firm characteristics experience significantly improvement in audit quality,whereas non-state-owned A-share enterprises experience little improvement. These results are robust to different measures of audit quality and effective reform dates and suggest that the reforms do not have an across-the-board effect on all listed enterprises.
曹琼，卜华，杨玉凤，等. 2013.盈余管理、审计费用与审计意见.审计研究，（6）:76-83.
陈朝龙，李军辉.2013.会计事务所规模对上市公司审计质量的影响--基于国有企业与非国有企业盈余管理视角.软科学，（27):116-122.
陈关亭，兰凌.2004.操控性应计利润审计质量的实证比较.审计与经济研究，19(4):16-19.
方军雄，洪剑峭，李若山.2004.我国上市公司审计质量影响因素研究：发现和启示.审计研究，（6):35-43.
郭照蕊.2011.国际四大与高审计质量--来自中国证券市场的证据.审计研究，（1):98-107.
阚京华.2017.国际审计与鉴证准则理事会审计报告模式变革特征及启示.南京审计大学学报，（2):58-66.
刘建民，唐红李，吴金光.2017.营改增全面实施对企业盈利能力、投资与专业化分工的影响效应--基于湖南省上市公司PSM-DID模型的分析.财政研究，（12):75-88.
卢宁文.2012.审计质量形成机理的博弈均衡分析.审计与经济研究，（27):42-48.
毛丽娟，朱轶琳.2015.审计质量、财务重述与审计机构变更--来自中国主板上市公司的经验证据.当代会计评论，（12):61-82.
漆江娜，陈慧霖，张阳.2004.事务所规模·品牌·价格与审计质量--国际“四大”中国审计市场收费与质量研究.审计研究，（3):59-65.
冉明东，徐耀珍.2017.注册会计师审计报告改进研究--基于我国审计报告改革试点样本的分析.审计研究，（5):62-69.
唐建华.2015.国际审计与鉴证准则理事会审计报告改革评析.审计研究，（1):60-66.
田利辉，王可第.2017.社会责任信息披露的“掩饰效应”和上市公司崩盘风险术--来自中国股票市场的DID-PSM分析.管理世界，（11):146-157.
王慧.2017.注册会计师审计报告模式改革及国际比较.财会月刊，（13):125-128.
王艳艳，许锐，王成龙，等.2018.关键审计事项段能够提高审计报告的沟通价值吗？会计研究，（6):86-93.
汪怡杉，胡本源.2017.新审计报告准则实施情况分析与研究.中国内部审计，（6):82-87.
吴青川，鄢志娟，张烨.2015.风险导向审计准则对审计质量影响的实证研究.现代管理科学，（3):100-102.
夏立军.2002.国外盈余管理计量方法述评.外国经济与管理，（24):35-40.
许磊.2017.审计报告系列准则最新修订分析与解读.新会计，（3):24-26.
张继勋，蔡闫东，刘文欢.2016.标准审计报告改进、管理层和审计人员的关系与管理层沟通意愿--一项实验证据.审计研究，（3):77-83.
张继勋，韩冬梅.2014.标准审计报告改进与投资者感知的相关性、有用性及投资决策.审计研究，（3):51-59.
张龙平.1994.试论我国注册会计师审计质量控制标准的建设.中国注册会计师，（8):21-27.
赵保卿，朱蝉飞.2009.注册会计师审计质量控制的博弈分析.会计研究，（4):87-93.
左锐，文静，刘少锋.2017.我国新审计报告准则实施情况研究--基于2016年年度审计报告的数据分析.中国注册会计师，（10):71-74.
Alicke M D,Buckingham J,Zell E,et al.2008.Culpable control and counterfactual reasoning in the psychology of blame.Personality&Social Psychology Bulletin,34(10):1371-1381.
Backof A G,Bowlin K,Goodson B M.2014-06-06.The importance of clarification of auditors’responsibilities under the new audit reporting standards.https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2446057.
Barth M,Landsman W,Lang M.2008.International accounting standards and accounting quality.Journal of Accounting Research,46(3):467-498.
Barth M,Landsman W,Lang M,et al.2012.Are IFRS-based and US GAAP-based accounting amounts comparable?Journal of Accounting and Economics,54(1):68-93.
Bartov E,Gul F A,Tsui J S L.2004.Discretionary-accruals models and audit qualifications.Journal of Accounting&Economics,30(3):421-452.
Becker C L,Defond M J,Jiambalvo J.1998.The effect of audit quality on earnings management.Contemporary Accounting Research,15(1):1-24.
Blay A D,Notbohm M,Schelleman C,et al.2015.Audit quality effects of an individual audit engagement partner signature mandate.International Journal of Auditing,18(3):172-192.
Bradbury M E.2018-05-05.Auditor,client,and investor consequences of the enhanced auditor’s report.https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3165267.
Brasel K,Doxey M,Grenier J H,et al.2016.Risk disclosure preceding negative outcomes:the effects of reporting critical audit matters on judgments of auditor liability.The Accounting Review,91:1345-1362.
Carcello J V C,Li C.2013.Costs and benefits of requiring an engagement partner signature:recent experience in the United Kingdom.The Accounting Review,88(5):1511-1546.
Chan L H,Chen K C W,Chen T Y,et al.2012.The effects of firm-initiated clawback provisions on earnings quality and auditor behavior.Journal of Accounting&Economics,54(2~3):180-196.
Chen S M,Sun Y J,Wu D H.2010.Client importance,institutional improvements,and audit quality in China:an office and individual auditor level analysis.The Accounting Review,85(1):127-158.
Christensen B E,Glover S M,Wolfe C J.2014.Do critical audit matter paragraphs in the audit report change nonprofessional investors’decision to invest?Auditing A Journal of Practice&Theory,33(4):71-93.
Deangelo L E.1981.Auditor size and audit quality.Journal of Accounting&Economics,3(3):183-199.
Dechow P M,Sloan R G,Hutton A P.1994.Detecting earnings management.The Accounting Review,70(2):193-225.
Dechow P,Ge W,Larson C,et al.2011.Predicting material accounting misstatements.Contemporary Accounting Research,28(1):17-82.
Defond M L,Subramanyam K R.1998.Auditor changes and discretionary accruals.Journal of Accounting&Economics,25(1):35-67.
Defond M L,Zhang J.2014.A review of archival auditing research.Journal of Accounting and Economics,58(2~3):275-326.
Defond M,Hung M,Trezevant R.2007.Investor protection and the information content of annual earnings announcements:international evidence.Journal of Accounting and Economics,43(1):37-67.
Deloitte.2013-10-31.A new beginning-annual report insights 2013.https://www.iasplus.com/en-gb/publications/uk/other/annual-report-insights-2013.
Doxey M.2012-11-28.The effects of auditor disclosures regarding management estimates on financial statement users’perceptions and investments[J].https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2181624.
Draeger M,Herrmann D,Lawson B P.2016.Changes in audit quality under auditing standard No.5.Accounting&the Public Interest,16(1):75-83.
Ernst&Young.2016.Enhanced auditor’s reporting:assurance-special edition.Working Paper.
Ettredge M,Fuerherm E,Chan L.2014.Fee pressure and audit quality.Accounting,Organizations and Society,39(4):247-263.
Francis J,Lafond R,Olsson P,et al.2005.The marketing pricing of accruals quality.Journal of Accounting and Economics,39(2):295-327.
Francis J R,Wang D.2008.The joint effect of investor protection and big 4 audits on earnings quality around the world.Contemporary Accounting Research,25(1):157-191.
Frankel R,Johnson M,Nelson K.2002.The relation between auditors’fees for nonaudit services and earnings management.The Accounting Review,77(4):71-105.
Fung M,Raman K K,Zhu X D.2017.Does the PCAOB international inspection program improve audit quality for non-US-listed foreign clients?Journal of Accounting and Economics,64(1):15-36.
Gimbar C,Hansen B,Ozlanski M E.2016.The effects of critical audit matter paragraphs and accounting standard precision on auditor liability.The Accounting Review,91(6):1629-1646.
Guay W,Kothari S,Watts R.1996.A market-based evaluation of discretionary accrual models.Journal of Accounting Research,34(3):83-105.
Gul F A,Tsui J S L.1997.A test of the free cash flow and debt monitoring hypotheses:evidence from audit pricing.Journal of Accounting and Economics,24(2):219-237.
Gul F,Fung S,Jaggi B.2009.Earnings quality:some evidence on the role of auditor tenure and auditors’industry expertise.Journal of Accounting and Economics,47(3):265-287.
Gutierrez E,Minutti-Meza M,Tatum K W,et al.2018.Consequences of adopting an expanded auditor’s report in the United Kingdom.Review of Accounting Studies,23(4):1543-1587.
Humphrey C,Loft A,Woods M.2009.The global audit profession and the international financial architecture:understanding regulatory relationships at a time of financial crisis.Accounting,Organizations and Society,34(6~7):810-825.
IAASB.2013-07-25.Reporting on audited financial statements:proposed new and revised International Standards on Auditing(ISAs).https://www.iaasb.org/publications/reporting-audited-financial-statementsproposed-new-and-revised-international-standards-auditing.
IAASB.2015-01-15.Reporting on audited financial statements:new and revised auditor reporting standards and related confirming amendments.https://www.iaasb.org/publications/reporting-audited-financialstatements-new-and-revised-auditor-reporting-standards-and-related-11.
Kachelmeier S J,Schmidt J J,Valentine K.2014-09-14.Do critical audit matter disclosures protect auditors by forewarning users of misstatement risk?https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2838162.
Kim J B,Chung R,Firth M.2003.Auditor conservatism,asymmetric monitoring,and earnings management.Contemporary Accounting Research,20(2):323-359.
Kohler A G,Quick R,Willekens M.2016.The new european audit regulation arena:discussion of new rules and ideas for future research.International Journal of Auditing,20(3):211-214.
K?hler A,Ratzinger-Sakel N V S,Theis J.2016-09-14.The effects of key audit matters on the auditor’s report’s communicative value:experimental evidence from investment professionals and non-professional investors.https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2838162.
Kothari S P,Leone A,Wasley C.2005.Performance matched discretionary accrual measures.Journal of Accounting and Economics,39(1):163-197.
Krishnan J,Krishnan J,Song H.2017.PCAOB international inspections and audit quality.The Accounting Review,92(5):143-166.
Lennox C S.2000.Do companies successfully engage in opinion-shopping?Evidence from the UK.Journal of Accounting and Economics,29(3):321-337.
Lennox C S,Schmidt J J,Thompson A.2015-06-19.Are expanded audit reports informative to investors?Evidence from the U.K..https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2619785.
Lennox C S,Wu X,Zhang T Y.2016.The Effect of audit adjustments on earnings quality:evidence from China.Journal of Accounting and Economics,61(2):545-562.
Lian Y,Zhi S,Gu Y.2011.Evaluating the effects of equity incentives using PSM:evidence from China.Frontiers of Business Research in China,5(2):266-290.
Lobo Y,Zhao Y P.2013.Relation between audit effort and financial report misstatements:evidence from quarterly and annual restatements.The Accounting Review,88(4):1385-1412.
PCAOB.2011-06-21.Concept release on possible revisions to PCAOB standards related to reports on audited financial statements and related amendments to PCAOB standards.https://pcaobus.org/News/Speech/Pages/06212011_Harris Statement.aspx.
PCAOB.2017-06-01.The auditor’s report on an audit of financial statements when the auditor expresses an unqualified opinion and related amendments to PCAOB standards.https://pcaobus.org//standards/auditing/pages/as3101.aspx.
Peecher M E,Solomon I,Trotman K T.2013.An accountability framework for financial statement auditors and related research questions.Accounting Organizations&Society,38(8):596-620.
Reid L C,Carcello J V,Li C,et al.2015-08-21.Impact of auditor and audit committee report changes on audit quality and costs:evidence from the United Kingdom.https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2647507.
Rice S C,Weber D.2012.How effective is internal control reporting under SOX 404?Determinants of the(non-)disclosure of existing material weakness.Journal of Accounting Research,50(3):811-843.
Roychowdhury S.2006.Earnings management through real activities manipulation.Journal of Accounting and Economics,42:335-370.
Schneider A,Church B K.2008.The effect of auditors’internal control opinions on loan decisions.Journal of Accounting&Public Policy,27(1):10-18.
Sirois L,Bédard J,Bera P.2018.The informational value of key audit matters in the auditor’s report:evidence from an eye-tracking study.Accounting Horizons,32(2):141-162.
Srinidhi B N,Gul F A.2007.The differential effects of auditors’nonaudit and audit fees on accrual quality.Contemporary Accounting Research,24(2):595-629.
Stanley J D,Dezoort F T.2007.Audit firm tenure and financial restatements:an analysis of industry specialization and fee effects.Journal of Accounting&Public Policy,26(2):131-159.
Wang D,Zhou J.2012.The Impact of PCAOB auditing standard No.5 on audit fees and audit quality.Accounting Horizons,26(3):493-511.
Wells Fargo.2016.Comment letter on PCAOB Release No.2016-003.Rulemaking Docket Matter No.34.
Xu Y,Carson E,Fargher N,et al.2013.Responses by Australian auditors to the global financial crisis.Accounting and Finance,53(1):301-338.
(1)A股：A-shares，人民币普通股票；H股：国企股。
(2)DID:difference-in-difference，双重差分；PSM:propensity score matching，倾向得分匹配。
基本信息:
中图分类号:F239.22
引用信息:
[1]张金若,刘雅丹.中国审计报告改革对审计质量的影响研究[J].当代会计评论,2019,12(03):89-110.
基金信息:
教育部人文社会科学研究规划基金项目“‘一带一路’会计监管合作研究”(19YJA790114)的资助
2019-12-31
2019-12-31
