大股东股权质押会影响审计师决策吗?——基于审计费用与审计意见的证据

Dose Stock Rights Pledging of Blockholders Affect Auditor's Decisions?——Evidence from audit fees and audit opinions

本文以2007~2015年沪深两市A股上市公司为样本,研究了上市公司大股东进行股权质押对审计师决策的影响。实证结果表明:存在大股东股权质押的公司会被收取更高的审计费用;股权质押的风险水平也会影响审计收费,股权被质押的比例越高,审计收费越高;同时,审计师出具的审计意见类型也会受到大股东股权质押风险程度的影响,股权质押的比例越高,公司越有可能被出具非标准审计意见;但大股东股权质押对审计师决策的影响主要体现在非国有公司中。国有公司大股东的股权质押行为对审计师决策并未产生显著影响。本文研究结果说明在对非国有公司进行审计时,审计师会充分考虑股权质押可能带来的相关风险,并将其纳入审计收费及审计意见的决策过程。

This paper investigates the influence of stock rights pledging of blockholders on auditor＇ s decisions, based on China＇ s A-share listed companies from 2007 to 2015. We find that the existence of stock righting pledging of blockholders is significantly positively related to audit fees, and the percentage of stocks that are pledged is also positively related to audit fees. Besides audit fees, the percentage of stocks that are pledged is also positively related to the propensity to receive modified audit opinions. But these relationship mainly exists among private firms. For state-owned enterprises （ SOEs）, stock rights pledging of blockholders does not have significant influence on auditor＇ s decisions. Our study shows that auditors fully take into account the risks of stock rights pledging of blockholders when making decisions on audit fees and audit opinions for non-state-owned firms.