审计质量替代指标有效性检验与筛选

The Validity Testing and Selecting of Proxy Variables for Audit Quality

以替代指标来表征不可直接观察的审计质量,其有效性如何,值得检验。在国内外文献回顾的基础上,确定了应计质量、审计收费等六个最常用的审计质量替代指标。采用我国上市公司的数据,选取权益资本成本效应、违规可能性和财务报表重述概率作为过滤检验变量,逐一检验了各个审计替代指标的有效性。结果发现,审计机构是否为国内"十大"会计师事务所和以Jones模型为基础的可操控性应计这两个指标的审计质量替代性最好;盈余稳健性和盈余反应系数没有通过过滤检验。审计机构是否四大和审计收费这两个指标没有全部通过过滤检验,其有效性存疑。

Most scholars used explicit proxy variables to reflect audit quality, in that case, the paper set out to test the effectiveness of these indicators. Based on domestic and overseas literature reviews, we determined seven most commonly used proxy variables, such as accruals quality, audit fees, etc. With the help of the panel data of domes- tic listed companies, we chose factors such as the effect of equity capital cost, the possibility of violation and the probability of financial restatement to examine the effectiveness of each proxy variable. The empirical results showed that variables such as the involvement of ten leading domestic audit firms and discretionary accruals were the best proxy variables. Variables such as the involvement of international bigfour audit firms and audit fees had not com- pletely passed the test, so their effectiveness were in doubt. Earnings conservatism and earnings response coeffi- cient, however, failed to pass the test. In the phase of endogenous effects being controlled, the conclusions were still strong. The conclusions would be the basis for further studies on audit quality, and it also provided revelation on policy implications for audit and accounting supervision.