摘要
低质量审计传染效应对资本市场信息披露秩序具有广泛的破坏作用。以2015-2019年A股上市公司为研究对象,考察基于年报问询函的低质量审计传染效应。研究发现,年报问询函导致的低质量审计风险具有股票市场的短期传染效应,相比于非风险审计联结企业,风险审计联结企业当年的审计质量更低,未来一至两年内遭受交易所年报问询的概率更大,表明基于年报问询函的低质量审计存在横向与纵向传染效应。进一步研究发现,“四大”事务所和内部控制可抑制低质量审计传染,问询函问题数量、回函详细度和年审会计师出具专门意见与低质量审计传染效应呈正向关系,次年更换签字审计师可有效抑制审计风险纵向传染。研究结果对审计风险的监管具有启示意义,有助于全面认识问询函制度的监管效果。
The contagion effect of low-quality audit has a widespread destructive effect on the order of information disclosure in the capital market.Taking 2015-2019 A-share listed companies as sample,this paper investigates the audit risk contagion based on annual report comment letter.We find that the low-quality audit risk caused by annual report inquiry letters has a short-term contagion effect on the stock market.Compared with non-risk audit linked enterprises,the earnings quality of risk audit linked enterprises in the current year is significantly lower,and the probability of annual report being inquired by the exchange’s in the next one to two years is significantly increased,which means that the audit risk based on the annual report comment letter has horizontal and vertical contagion.The above relationship is more obvious in the case of high audit risk intensity.Audit by“Big Four”and high-quality internal control can alleviate contagion effect.The more questions contained in the annual report inquiry letter,the more detailed the enterprise’s reply and the need for special opinions from the annual audit accountant,the stronger the low-quality audit contagion effect.Finally,the change of signature auditors in the next year can effectively curb the vertical contagion of audit risk.The results of this paper not only are of significance for the supervision of audit risk,but also contribute to a comprehensive understanding of the supervision effect of comment letter.
作者
蓝梦
夏宁
Lan Meng;Xia Ning
出处
《审计研究》
CSSCI
北大核心
2022年第4期78-87,共10页
Auditing Research
基金
中国政法大学科研创新引导专项项目(项目批准号:21ZFY63001)
国家社会科学基金(项目批准号:19BGL068)的资助。
关键词
年报问询函
低质量审计传染
审计联结
annual report inquiry letter
contagion effect
audit connection
