内部控制缺陷披露会导致企业内部控制执行成本增加吗?
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摘要
以我国A股上市公司2012—2016年披露的内部控制缺陷及审计费用的数据,深入研究我国强制执行内部控制审计之后内部控制缺陷披露对企业内部控制执行成本的影响。研究发现:首次强制执行内部控制审计以及后续年度里,企业披露内部控制缺陷均导致企业内部控制执行成本的增加;同时,前期的内部控制缺陷披露也会增加企业当期内部控制执行成本。进一步的研究发现,内部控制缺陷披露严重程度与企业内部控制执行成本也显著正相关,企业披露的内部控制缺陷越严重,执行成本越高。但是,企业采取内部控制缺陷整改措施有助于降低企业内部控制执行成本。
Based on the data of internal control defects and audit fees disclosed by A-share listed companies in China from2012 to 2016, this paper makes an in-depth study on the impact of internal control defects disclosure on the implementation cost of internal control of enterprise after mandatory internal control audit in China. The study finds that in the first year of enforcement of internal control audit and subsequent years,the disclosure of internal control defects by enterprises leads to an increase in the cost of internal control implementation of enterprises. At the same time,the prior internal control defect disclosure will also increase the cost of internal control implementation in the current period.Further research finds that the severity of internal control defects disclosure is also significantly positively correlated with the implementation cost of internal control. The more serious of the internal control defects disclosed by enterprises,the higher of the implementation cost. However,the rectification of internal control defects taken by enterprises will reduce the implementation cost.
Based on the data of internal control defects and audit fees disclosed by A-share listed companies in China from2012 to 2016, this paper makes an in-depth study on the impact of internal control defects disclosure on the implementation cost of internal control of enterprise after mandatory internal control audit in China. The study finds that in the first year of enforcement of internal control audit and subsequent years,the disclosure of internal control defects by enterprises leads to an increase in the cost of internal control implementation of enterprises. At the same time,the prior internal control defect disclosure will also increase the cost of internal control implementation in the current period.Further research finds that the severity of internal control defects disclosure is also significantly positively correlated with the implementation cost of internal control. The more serious of the internal control defects disclosed by enterprises,the higher of the implementation cost. However,the rectification of internal control defects taken by enterprises will reduce the implementation cost.
引文
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[6]Ettredge M,Fuerherm E,Li C.Fee pressure and audit quality[J].Accounting Organizations&Society,2014,39(4):247-263.
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[11]Foster B P,Ornstein W,Shastri T.Audit costs,material weaknesses under SOX section 404[J].Managerial Auditing Journal,007,22(7):661-673.
[12]Hoitash R,Hoitash U,Bedard J C.Internal control quality and audit pricing under the Sarbanes-oxley act[J].Audting:A Journal of Practice&Theory,2008,27(1):105-126.
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[14]Ebrahim A.Audit fee premium and auditor change:The effect of Sarbanes-oxley act[J].Managerial Auditing Journal,2010,25(2):102-121.
[15]Simunic D A.The pricing of audit services:Theory and evidence[J].Journal of Accounting Research,1980,18(1):161-190.
[16]Iliev P.The effect of sox section 404:Costs,earnings quality,and stock prices[J].The Journal of Finance,2010,65(3):1163-1196.
[17]Canada J,Sutton S G,Randel K J.The pervasive nature of IT controls[J].International Journal of Accounting&Information Management,2009,17(1):106-119.
[18]Calderon T G,Wang L,Klenotic T.Past control risk and current audit fees[J].Managerial Auditing Journal,2012,27(7):693-708.
[19]Munsif V,Raghunandan K,Singhvi M.Audit fees after remediation of internal control weakness[J].Accounting Horizons,2011,25(1):87-105.
[20]Raghunandan K,Rama D V.Sox section 404 material weakness disclosures and audit fees[J].Auditing:A Journal of Practice&Theory,2006,25(1):99-114.
[21]盖地,盛常艳.内部控制缺陷及其修正对审计收费的影响--来自中国A股上市公司的数据[J].审计与经济研究,2013(3):21-27.
[22]张梅,韩身智.财务风险、会计师事务所变更与低价揽客--来自上市公司的经验证据[J].经济问题,2013(7):120-124.
[23]Bedard J C,Hoitash U,Hoitash R.Audit pricing and internal control disclosures among non-accelerated filers[J].Research in Accounting Regulation,2008,20(C):103-126.
[24]王晶琦.内部控制缺陷及其整改对后续年度审计定价的影响研究[D].大连:东北财经大学,2013.
[25]王加灿.上市公司内部控制审计与年报及时性--基于OLS与分位数回归的证据[J].审计与经济研究,2015(3):58-68.
[26]李补喜,王平心.上市公司审计费用率能作为审计定价吗?--审计费用与审计费用率的比较研究[J].数理统计与管理,2005(4):23-30.
[27]田高良,齐保垒,李留闯.基于财务报告的内部控制缺陷披露影响因素研究[J].南开管理评论,2010(4):134-141.
[28]程昔武,纪纲,张泽云,等.真实盈余管理影响内部控制审计收费吗?--来自中国A股上市公司的经验证据[J].南京审计大学学报,2018(04):20-27.
[29]方红星,金玉娜.高质量内部控制能抑制盈余管理吗?--基于自愿性内部控制鉴证报告的经验研究[J].会计研究,2011(8):53-60.
[2]Doyle J,Ge W,Mcvay S.Determinants of weaknesses in internal control over financial reporting[J].Journal of Accounting and Economics,2007,44(1-2):193-223.
[3]Ogneva M,Subramanyam K R,Raghunandan K.Internal control weakness and cost of equity:Evidence from sox section 404disclosures[J].Accounting Review,2007,82(5):1255-1297.
[4]张红英,高晟星.内部控制缺陷和审计费用关系的实证研究--基于内部控制缺陷细化视角[J].财经论丛,2014(8):51-59.
[5]李越冬,张冬,刘伟伟.内部控制重大缺陷、产权性质与审计定价[J].审计研究,2014(2):45-52.
[6]Ettredge M,Fuerherm E,Li C.Fee pressure and audit quality[J].Accounting Organizations&Society,2014,39(4):247-263.
[7]Munsif V,Singhvi M.Internal control reporting and audit fees of non-accelerated filers[J].Social Science Electronic Publishing,2015.
[8]Tackett J A,Wolf F,Claypool G A.Internal control under sarbanes-oxley:A critical examination[J].Managerial Auditing Journal,2006,21(3):317-323.
[9]Krishnan J,Rama D,Zhang Y.Costs to comply with SOX section 404[J].Auditing:A Journal of Practice&Theory,2008,27(1):169-186.
[10]Sneller L,Langendijk H.Sarbanes oxley section 404 costs of compliance:A case study[J].Corporate Governance:An International Review,2007,15(2):101-111.
[11]Foster B P,Ornstein W,Shastri T.Audit costs,material weaknesses under SOX section 404[J].Managerial Auditing Journal,007,22(7):661-673.
[12]Hoitash R,Hoitash U,Bedard J C.Internal control quality and audit pricing under the Sarbanes-oxley act[J].Audting:A Journal of Practice&Theory,2008,27(1):105-126.
[13]Elder R J,Zhang Y,Zhou J,et al.Internal control weaknesses and client risk management[J].Journal of Accounting Auditing&Finance,2009,24(4):543-579.
[14]Ebrahim A.Audit fee premium and auditor change:The effect of Sarbanes-oxley act[J].Managerial Auditing Journal,2010,25(2):102-121.
[15]Simunic D A.The pricing of audit services:Theory and evidence[J].Journal of Accounting Research,1980,18(1):161-190.
[16]Iliev P.The effect of sox section 404:Costs,earnings quality,and stock prices[J].The Journal of Finance,2010,65(3):1163-1196.
[17]Canada J,Sutton S G,Randel K J.The pervasive nature of IT controls[J].International Journal of Accounting&Information Management,2009,17(1):106-119.
[18]Calderon T G,Wang L,Klenotic T.Past control risk and current audit fees[J].Managerial Auditing Journal,2012,27(7):693-708.
[19]Munsif V,Raghunandan K,Singhvi M.Audit fees after remediation of internal control weakness[J].Accounting Horizons,2011,25(1):87-105.
[20]Raghunandan K,Rama D V.Sox section 404 material weakness disclosures and audit fees[J].Auditing:A Journal of Practice&Theory,2006,25(1):99-114.
[21]盖地,盛常艳.内部控制缺陷及其修正对审计收费的影响--来自中国A股上市公司的数据[J].审计与经济研究,2013(3):21-27.
[22]张梅,韩身智.财务风险、会计师事务所变更与低价揽客--来自上市公司的经验证据[J].经济问题,2013(7):120-124.
[23]Bedard J C,Hoitash U,Hoitash R.Audit pricing and internal control disclosures among non-accelerated filers[J].Research in Accounting Regulation,2008,20(C):103-126.
[24]王晶琦.内部控制缺陷及其整改对后续年度审计定价的影响研究[D].大连:东北财经大学,2013.
[25]王加灿.上市公司内部控制审计与年报及时性--基于OLS与分位数回归的证据[J].审计与经济研究,2015(3):58-68.
[26]李补喜,王平心.上市公司审计费用率能作为审计定价吗?--审计费用与审计费用率的比较研究[J].数理统计与管理,2005(4):23-30.
[27]田高良,齐保垒,李留闯.基于财务报告的内部控制缺陷披露影响因素研究[J].南开管理评论,2010(4):134-141.
[28]程昔武,纪纲,张泽云,等.真实盈余管理影响内部控制审计收费吗?--来自中国A股上市公司的经验证据[J].南京审计大学学报,2018(04):20-27.
[29]方红星,金玉娜.高质量内部控制能抑制盈余管理吗?--基于自愿性内部控制鉴证报告的经验研究[J].会计研究,2011(8):53-60.