会计师事务所规模对审计质量的影响
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摘要
会计师事务所规模、法制环境与审计质量的关系仍然存在争议。如果事务所规模与审计质量的正向关系不依赖于法制环境,则在所有的国家和地区,大所的审计质量都应高于小所的审计质量;而如果这种关系还必须以健全的法制环境为条件,则仅在法制环境健全的国家和地区,大所才会表现出高于小所的审计质量。现有文献中存在着两种竞争性的观点:法制无关论认为,大所的审计质量总是高于小所的审计质量,在薄弱的法制环境中,大所提供的高质量审计更能发挥治理作用;法制相关论认为,大所的审计质量随法制环境的强化而提高,在法制环境达到一定水平时才高于小所的审计质量。
中国薄弱的总体法制环境和明显的地区法制差异并存的情况为我们检验会计师事务所规模、法制环境与审计质量的关系提供了契机。本文以中国的法制环境状况为背景,利用2002-2005年的数据,以可操控应计利润及市场对可操控应计利润的定价分别代表实际审计质量和感知审计质量,实证检验了事务所规模、法制环境与审计质量的关系,基本的研究结论如下:
(1)从总体法制环境来看,事务所规模与审计质量不存在显著的正相关关系。本文发现,总体而言,我国审计市场上大所客户的可操控应计利润与小所客户的可操控应计利润不存在显著差异,说明大所与小所的实际审计质量没有实质性区别。其次,从可操控应计利润的市场定价来看,市场对大所客户和小所客户的可操控应计利润的定价没有显著区别,说明大所和小所的感知审计质量也没有实质性差异。
(2)从地区法制差异的影响来看,随着法制环境的强化,大所抑制客户盈余管理的能力有所加强,而小所则没有这种变化。这说明,随着法制环境的强化,大所会调整自己的审计行为。但从市场对可操控应计利润的定价来看,地区法制差异对大所审计质量的影响没有在市场对可操控应计利润的定价中得到反映。
(3)事务所规模和法制环境是审计质量的联合决定因素。要提高审计质量,除了要有规模达到一定程度的事务所外,还须有足够健全的法制环境。其政策含义为,要提高审计质量,除了要创造条件让事务所自发的扩大规模外,还须同时加强法制建设,让大所有动机提高审计质量。
The relationship between audit firm size,legal environment and audit quality is still in controversy.If the positive relationship of audit firm size and audit quality is independent of legal environment,then big audit firms should always show higher audit quality than small ones around the world.But if it hinges on strong legal environment,then big audit firms will only display higher audit quality in countries with strong legal institution.There exist two competing theories in extent literature: the irrelevance of legal institution theory presumes that large audit firms always possess higher audit quality than that of small ones and can serve stronger governance role in weak legal environment;while the relevance of legal institution theory argues that large audit firms only possess higher audit quality than that of small audit firms in strong enough legal environment.
The weak all-around legal institution and obvious differentiate provincial legal environment of China provides opportunity to investigate the relationship between audit firm size,legal environment and audit quality.Based on this unique background of China,this thesis examines this topic from the perspective of both actual audit quality and perceived audit quality by drawing a sample from 2002 to 2005.The main conclusions are as follow:
(1) Under the weak all-around legal environment,the positive relationship of audit firm size and audit quality does not hold in China.First,there is no statistical significant difference between the discretionary accruals of clients with big audit firms and that with small ones,which means the actual audit quality of big audit firms and small ones does not differ significantly.Second,the market does not price the discretionary accruals of clients with big audit firms and that with small ones differently,which means the perceived audit quality between large audit firms and small ones does not differ substantially either.
(2) The difference of provincial legal environment has some effect on the relationship between audit firm size and audit quality.With the strengthening of provincial legal institution,large audit firms can curb their clients' positive discretionary accruals to some extent.However,this effect does not reflected in the pricing ofdiscrctionary accruals.
(3) Audit quality is determined jointly by both audit firm size and legal environment.To improve audit quality,strong enough legal institution is necessary beside big enough audit firm size.The policy implication is that while pushing audit firm to enlarge their size voluntarily,measures should be taken to strengthen the legal institution to stimulate large audit firms to enhance their audit quality.
中国薄弱的总体法制环境和明显的地区法制差异并存的情况为我们检验会计师事务所规模、法制环境与审计质量的关系提供了契机。本文以中国的法制环境状况为背景,利用2002-2005年的数据,以可操控应计利润及市场对可操控应计利润的定价分别代表实际审计质量和感知审计质量,实证检验了事务所规模、法制环境与审计质量的关系,基本的研究结论如下:
(1)从总体法制环境来看,事务所规模与审计质量不存在显著的正相关关系。本文发现,总体而言,我国审计市场上大所客户的可操控应计利润与小所客户的可操控应计利润不存在显著差异,说明大所与小所的实际审计质量没有实质性区别。其次,从可操控应计利润的市场定价来看,市场对大所客户和小所客户的可操控应计利润的定价没有显著区别,说明大所和小所的感知审计质量也没有实质性差异。
(2)从地区法制差异的影响来看,随着法制环境的强化,大所抑制客户盈余管理的能力有所加强,而小所则没有这种变化。这说明,随着法制环境的强化,大所会调整自己的审计行为。但从市场对可操控应计利润的定价来看,地区法制差异对大所审计质量的影响没有在市场对可操控应计利润的定价中得到反映。
(3)事务所规模和法制环境是审计质量的联合决定因素。要提高审计质量,除了要有规模达到一定程度的事务所外,还须有足够健全的法制环境。其政策含义为,要提高审计质量,除了要创造条件让事务所自发的扩大规模外,还须同时加强法制建设,让大所有动机提高审计质量。
The relationship between audit firm size,legal environment and audit quality is still in controversy.If the positive relationship of audit firm size and audit quality is independent of legal environment,then big audit firms should always show higher audit quality than small ones around the world.But if it hinges on strong legal environment,then big audit firms will only display higher audit quality in countries with strong legal institution.There exist two competing theories in extent literature: the irrelevance of legal institution theory presumes that large audit firms always possess higher audit quality than that of small ones and can serve stronger governance role in weak legal environment;while the relevance of legal institution theory argues that large audit firms only possess higher audit quality than that of small audit firms in strong enough legal environment.
The weak all-around legal institution and obvious differentiate provincial legal environment of China provides opportunity to investigate the relationship between audit firm size,legal environment and audit quality.Based on this unique background of China,this thesis examines this topic from the perspective of both actual audit quality and perceived audit quality by drawing a sample from 2002 to 2005.The main conclusions are as follow:
(1) Under the weak all-around legal environment,the positive relationship of audit firm size and audit quality does not hold in China.First,there is no statistical significant difference between the discretionary accruals of clients with big audit firms and that with small ones,which means the actual audit quality of big audit firms and small ones does not differ significantly.Second,the market does not price the discretionary accruals of clients with big audit firms and that with small ones differently,which means the perceived audit quality between large audit firms and small ones does not differ substantially either.
(2) The difference of provincial legal environment has some effect on the relationship between audit firm size and audit quality.With the strengthening of provincial legal institution,large audit firms can curb their clients' positive discretionary accruals to some extent.However,this effect does not reflected in the pricing ofdiscrctionary accruals.
(3) Audit quality is determined jointly by both audit firm size and legal environment.To improve audit quality,strong enough legal institution is necessary beside big enough audit firm size.The policy implication is that while pushing audit firm to enlarge their size voluntarily,measures should be taken to strengthen the legal institution to stimulate large audit firms to enhance their audit quality.
引文
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