財務報表重編與審計公費

Financial Restatements and Audit Fees

10.6552/JOAR.2017.65.3

周玲臺(Ling-Tai Lynette Chou)；王雅芳(Ya-Fang Wang)；林家駿(Chia-Chun Lin)

財報重編 ； 未預期審計公費 ； 重編特質 ； 經濟後果 ； Restatements ； unexpected audit fees ； restatement characteristics ； economic consequence

會計評論

65期（2017 / 07 / 01）

83 - 116

繁體中文

本研究旨在探討台灣上市櫃公司財務報表重編與審計公費之關聯性，並進一步檢視不同重編特質是否反映於審計公費上，且審計公費的調整是否為財務報表重編後之可能經濟後果。本研究使用2002年至2008年間85家揭露審計公費資訊之重編公司及85家未重編配對公司進行分析，實證結果顯示，當期正向未預期審計公費與財務報表重編呈顯著正相關。此結果雖然與過去文獻認為未預期審計公費會造成會計師與客戶之間的經濟束縛，降低會計師獨立性，使得審計品質下降的發現一致，亦不排除是受查者內控較差，在會計師增加查核投入與工作後，仍不足以偵知所有的重大缺失而發生財報重編之可能性。再者，本研究進一步發現在不同的重編特質中，損益向下調整及涉及盈餘管理動機之重編，與重編當期未預期審計公費顯著相關。最後，本研究發現重編公司後續審計公費提高的幅度顯著大於未重編公司，此結果符合審計公費增加為重編的一種經濟後果之論點。

In this study we investigate the association between audit fees and the likelihood and characteristics of financial restatements, as well as whether audit fees increase subsequent to financial restatements. Using a sample of Taiwanese listed companies that restate their financial statements and a matched sample of nonrestating companies from the period 2002- 2008, we document several findings. First, positive unexpected audit fees are associated with restatement likelihood, consistent with prior studies’ assertion that unexpected audit fees form economic bonding that may impair auditor independence and lead to decreased audit quality. However, this result cannot rule out the possibility that auditors of companies with weak internal controls charge higher audit fees to conduct more extensive audit testing but still fail to detect all material misstatements that may result in future financial restatements. Second, restatements involving downward income adjustments and transactions prone to earnings management are positively associated with audit fees. Finally, the subsequent increase in audit fees is greater for firms with restatements than for firms without restatements. Our results indicate that future audit fee increase is an economic consequence borne by restating companies in Taiwan.

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