注册会计师惩戒的溢出效应研究——以与受罚签字注册会计师合作的密切关系为视角

Spillover Effects of CPA Sanction——From the Perspective of Close Cooperation Relationship with Disciplined CPA

本文利用证监会2009-2015年的行政处罚决定,考察了行政处罚对事务所内部不同注册会计师产生的惩戒效果。研究发现,被惩戒以后,与未受罚的注册会计师相比,受罚注册会计师及其同组同事和同所同事的审计质量均有所提升。但随着与受罚注册会计师密切程度的降低,同组同事和同所同事审计质量的提升程度依次减弱,表明惩戒呈现出波纹式递减的溢出效应。进一步分析表明,同组同事的惩戒效应受到与受罚注册会计师的合作深度和惩戒延迟的影响。同时,事务所在受到处罚后会重新分配上市公司的审计业务,受罚注册会计师的签字数量减少甚至不再签字。本研究能给注册会计师执业带来警示和启发,反映了"正义也许会迟到,但不会缺席",注册会计师勤勉尽职成为最优选择。

Based on the enforcement releases issued by CSRC from 2009 to 2015, this paper examines the disciplinary sanctions effects on different types of auditors. The study finds that audit quality of punished auditors, team auditors and colleague auditors is significantly improved following the sanc- tions, compared with auditors which are not punished. But as the decreasing of inmated level with punished auditors, the improvement of audit quality of their team auditors and colleague auditors is weakened sequentially, which means that sanctions present the spillover effect of corrugated decreasing. Fur- ther analysis shows that the sanctions effect of team auditors is affected by the depth of cooperation with punished auditors and disciplinary delay. At the same time, this paper finds that CPA firms will redistribute the audit business of listed companies after punishment, and the punished auditors will re- duce their signature or even no longer sign. Our findings reflect that＂ justice may be late, but not absent＂. It brings warning and inspiration to auditors that diligence is the best choice.