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Study on Auditor Switches of Chinese Listed Companies

Author: GuChunJing
Tutor: ZhangXiaoYou
School: Southwestern University
Course: Accounting
Keywords: Audit agency changes Information Disclosure Audit Quality Earnings Management
CLC: F239.4
Type: Master's thesis
Year: 2006
Downloads: 38
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Abstract


In recent years, China's securities market has been in a recession, especially listed companies' financial fraud and frequent exposure, the securities regulatory authorities and the majority of investors are beginning to focus on audit institutions, coupled with the growing number of cases listed companies to change audit institutions, natural audit institutions to change to become the focus of attention of the parties. Listed companies frequently change the audit agency, the reasons for the intention, whether related to financial fraud, listed companies will take advantage of the dismissal of the threat of audit institutions and their audit plot and thus achieve the purpose of financial fraud, the audit agency under this threat whether compromise, he served as audit institutions to meet the requirements of the listed companies for their economic interests? For concerns on these issues, this article listed company audit agency changed to 2002 as the research sample, conducted a study of the following aspects: ( 1) The listed company audit institutions to change the status quo. Including the Certified General Accountants Association of China and the China Securities Regulatory Commission to change dominate regulatory changes on the audit agency, the audit agency of China's listed companies over the years, and the changes for the 2002 audit agencies disclosure of information and statistical analysis. (2) audit institutions to change the empirical analysis of influencing factors. 2002 listed company audit agency changed based on a statistical analysis of the causes of audit institutions to change in 2002, as the study sample and select listed companies as a control sample never change audit institutions, the establishment of audit institutions change as the dependent variable, the type of audit opinion, financial distress, the controlling shareholder of the change, audit the differential, financing motives and audit fees for the explanatory variables in the logistic regression model using SPSS11.5 on model testing and analysis. (3) listed company audit institutions before and after the change of audit quality. First analysis of the concept of audit quality and earnings management analysis proved can be used as a measure of audit quality, maneuverability accrued profits as earnings management metrics. Then draw on existing research, the use of sub-sectors Modified Jones model change when change auditing agencies listed companies, changes to the previous two years and change after two years, five years maneuverability accrued profit empirical analysis, to study the quality of audits differences. Through the above analysis, the following conclusions: (1) listed companies to change audit institutions, the situation is still very serious. (2) the reason for the change did not improve the quality of information disclosure. (3) audit opinion, the controlling shareholder of the changes as well as the financial plight of the audit agency changes affect significantly, of which the most significant is the financial difficulties, then the audit opinion, the controlling shareholder of change, re-financing motive, audit fees and audit differential characteristics of the role of turn weakened. (4) of the listed companies in financial trouble, change and change auditing institutions issued by non-standard unqualified audit opinion or holding East to look forward to working with the new audit institutions in the consistency of the accounting statements of opinion, but the structure shows that, listed The company did not achieve its desired effect, before and after the change of the audit institutions audit quality is not there were significant differences. Therefore, based on the above research, analysis and conclusions, the securities regulatory authorities, audit institutions and investors made the following policies and recommendations: (1) China Securities Regulatory Commission as a securities market supervisory bodies should further improve our accounting firm changes Information disclosure, standardize information disclosure format, to improve the timeliness of information disclosure, strengthen information disclosure regulation, increase the punishment. (2) the face of the pressure of the listed companies to replace the audit agency, the audit agency should be regarded as a market economy under the conditions of normal audit market audit institutions choose, should not be lost in order to avoid changing the principle, that is to say in the audit process still should be strictly in accordance with the Independent Auditing Standards and other regulations the conduct of the audit, the pressure to abide by professional ethics and the objective of the audit report, issued according to the actual situation, rather than succumb to the company's audit agency. (3) investors should look at listed companies is dubbed ST or * ST, then pay attention to whether the accounting reports of listed companies for non-standard unqualified audit opinions, especially those that are non-standard unqualified audit opinions issued in the first investment The change auditing agencies listed companies, investors should be vigilant.

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CLC: > Economic > Economic planning and management > Audit > Various types of audit
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