经济政策不确定性、资本市场开放与审计费用

Economic Policy Uncertainty, Capital Market Opening and Audit Fees

选取我国2009—2020年上市公司为样本,实证检验经济政策不确定性与审计费用的关系,并借助“陆港通”这一准自然实验,探究资本市场开放发挥的调节效用。结果表明,经济政策不确定性较高时,审计师所收取的审计费用也会提升,且资本市场开放对二者关系具有负向调节作用。面对着经济政策不确定性与资本市场开放带来的机遇与挑战,审计师应提高专业素质和执业技能;企业管理层应随时了解政策动态,抓住资本市场开放的机遇;政府应尽量减少经济政策不确定性带来的负面影响并坚持对外开放政策不动摇。

Taking the listed companies in China from 2009 to 2020 as samples, this paper empirically tests the relationship between the uncertainty of economic policies and audit fees, and explores the regulatory effect of capital market opening with the help of the quasi-natural experiment of Mainland-Hongkong Stock Connect. The results show that when the uncertainty of economic policy is high, the audit fees charged by auditors will also increase, and the opening of capital market has a negative regulatory effect on the relationship between the two. Therefore, facing the opportunities and challenges brought by the uncertainty of economic policy and the opening of capital market, auditors should improve their professional quality and professional skills. The enterprise management should keep abreast of the government’s policy trends and seize the opportunity of capital market opening. The government should try its best to reduce the negative impact of the uncertainty of economic policies and adhere to the policy of opening up to the outside world.