CFO背景特征对企业财务重述的影响——审计质量的调节效应

The Influence of CFO Background Characteristics on Corporate Financial Restatement:Moderating Effect of Audit Quality

不同背景特征的CFO出具的财务报告质量可能存在差异,同时CFO工作容易受到企业管理者的干预,被迫增加后期财务重述的风险。通过选取2011—2018年全部A股上市企业数据,回归分析了CFO个人、专业和身份背景特征对企业财务重述发生概率的影响,发现高年龄、高学历、具有审计背景、不具有政治关联、CFO相对于CEO的权力差距小的CFO所在公司发生财务重述的概率相对更低。研究还发现审计质量仅对年龄特征、政治背景特征、CFO相对于CEO的权力差距对财务重述的影响产生调节作用,随着审计质量水平的提高,CFO年龄特征对企业财务重述的负影响将进一步增强,而CFO政治背景、与CEO权力差距对企业财务重述的正影响将得到进一步遏制。

The quality of financial reports issued by CFO with different background characteristics may vary,and the work of CFOs is vulnerable to the intervention of enterprise managers,which is forced to increase the risk of financial restatement in the later period.Based on the data of all A-share listed companies from 2011 to 2018,this paper analyzes the influence of CFO personal,professional and identity background characteristics on the occurrence probability of corporate financial restatement.The study finds that the probability of financial restatement in CFO s company is relatively lower due to old age,high education,audit background,no political association and small power gap between CFO and CEO.The study also finds that audit quality only moderates the influence of age,political background and power gap between CFO and CEO on financial restatement.With the improvement of audit quality,the negative impact of CFO s age characteristics on the financial restatement probability will be further enhanced,while the positive impact of CFO s political background and power gap with CEO on the financial restatement probability will be further curbed.