“本土所”与“国际所”审计质量对比研究——基于行业专长效应的新视角

A Comparative Study on Audit Quality of“Local Accounting Firms”and“International Accounting Firms”:From the New Perspective of“Industrial Expertise Effect”

基于行业专长效应的新视角,以2008—2019年我国A股上市公司为样本,考察了“本土所”与“国际所”的审计质量差异。研究表明:与“国际所”的非行业审计专家相比,“本土所”的行业审计专家能够利用自身行业专长优势,发挥出更强的专业胜任能力与独立性,提供更高质量的审计服务,即存在行业专长效应;进一步地,我国推行会计师事务所特殊普通合伙制改革之后,这一行业专长效应增强,即“本土所”行业审计专家更能保障审计质量。拓展分析发现,“本土所”行业审计专家主要通过增加审计投入来提升审计质量;当两位审计师来自总所或相同分所时,更有助于行业专长效应的发挥。研究结论有助于矫正资本市场参与者针对“‘国际所’必然优于‘本土所’”的惯性误解,也可以为加强我国本土会计师事务所“做大做强”建设发展提供理论参考与政策启示。

Based on the new perspective of“industrial expertise effect”,using the data of China s A-share listed companies from 2008 to 2019,this paper investigates the audit quality differences between“local accounting firms”and“international accounting firms”.The results show that:compared with the non-industry audit experts of“international accounting firms”,the industry audit experts of“local accounting firms”can take advantage of their own industry expertise,exert stronger professional competence and independence,and provide higher quality of audit services,that is the“industrial expertise effect”.Furthermore,after the reform of the special general partnership system of accounting firms in China,this effect has been strengthened,which means the“local accounting firms”industry audit experts can better guarantee the audit quality.The expansion analysis shows that the audit experts of“local accounting firms”can improve the audit quality mainly by improving the audit input.The“industrial expertise effect”is even better when two auditors are from the head office or the same branch.This study is helpful to correct the inertial misunderstanding of capital market participants that“international accounting firms”are necessarily better than“local accounting firms”,and it also provides theoretical reference and policy enlightenment for strengthening local accounting firms construction and“bigger and stronger”development.