信息披露违规对审计费用的影响

Information Disclosure Violations and Audit Fees

合法合规的信息披露是股票发行注册制改革的核心,信息披露违规的负面后果值得深入研究。本文从审计费用角度检验了信息披露违规的经济后果,发现信息披露违规会导致审计师收取更多的审计费用。机制检验结果表明,信息披露违规使得违规公司的声誉受损进而提升审计费用,也使得违规公司更可能被监管机构纳入日后监管的"重点名单"进而提升审计费用。对于审计师而言,审计师更可能出具非标准无保留审计意见;此外,信息披露违规提升审计费用的路径,一部分源自更多的审计投入,另一部分则源自风险溢价。对于企业而言,当企业捐赠更多或经营效率更高时,信息披露违规对审计费用的正向影响会被弱化。本文丰富了信息披露违规的经济后果研究。

Information disclosure is the core of the reform of the registration system for stock issuance. In this regard, the negative consequences of information disclosure violations are worthy of in-depth study. This article examines the economic consequences of information disclosure violations from the perspective of audit fees. The research found that information disclosure violations will cause auditors to charge more audit fees. The results of the mechanism inspection show that the violation of information disclosure damages the reputation of the violating company, increase audit fees and makes the violating company more likely to be included in the “list of regulatory priorities” by regulators. The list further increases audit fees as auditors are more likely to issue non-standard unqualified audit opinions;in addition, the increase of audit fees caused by information disclosure violations is from more audit investment as well as risk premiums. When companies donate more or operate more efficiently, the unfavorable impact of information disclosure violations on audit fees will be weakened. This article enriches the relevant research on the economic consequences of information disclosure violations.