上市公司违规问题的审计后果研究——基于证券监管部门处罚公告的分析

The Auditors’ Reaction to the Companies’ Accounting and Financial Irregularities——Analysis of the punishment bulletins of the CRSC,SSE,and SZSE

近年来,不断有上市公司被中国证券监督管理委员会及上海和深圳两个证券交易所(以下简称"一会两所")处罚,国内外研究上市公司被处罚方面的文献主要集中于上市公司被处罚后股票市场的反应,甚少有研究涉及上市公司被处罚后审计师的反应:审计师在进行审计时是否更加谨慎,是否会要求更高的审计费用?通过对2001—2007年被"一会两所"处罚过的上市公司的审计师的反应发现,审计师在上市公司被处罚当年及之后的年份出具非标准审计意见的概率更高,并且要求更高的审计费用,但是处罚程度并没有对审计师出具非标准审计意见的概率及要求的审计费用造成显著影响。除此之外,我们发现上市公司被处罚当年,审计师的反应程度最强烈,出具非标准审计意见的概率最高,要求的审计费用也最高。

Recently, more and more listed companies have been punished by China Security Regulatory Commission （CSRC） , Shanghai Stock Exchange （SSE） and Shenzhen Stock Exchange （SZSE）. The literature about punished companies most focus on the response of the stock market, few paper refer to the auditors＇ response on the punishment of the companies. Through the investigation to the auditors＇ response to the punished companies from 2001 to 2007, we find that auditors are less likely issuing standard report the year and after the year the companies are punished than before. Besides that, the auditors will ask more audit fees. But we do not find the degree of the punishment has any impact on auditors＇ action. We also find that auditors＇ response is most severe the year the companies are punished.