强调事项段、审计意见变通和投资者市场反应  

Explanatory Events, Audit Opinion and Market Reaction

作　　者：阚京华[1] 

机构地区：[1]南京财经大学会计学院,江苏南京210003

出　　处：《中国流通经济》2008年第7期52-55,共4页China Business and Market

基　　金：教育部研究生教育创新项目<南京大学国际化会计学博士生项目>(项目编号:IAPHD);江苏省教育厅高校哲学社会科学基金项目<审计意见对我国股票市场资源配置影响的研究>(项目编号:06SJD790054)的阶段性成果

摘　　要：本文认为,我国投资者对非限制性强调事项和限制性强调事项的无保留审计意见的市场反应没有明显区别,但是对非限制性强调事项的无保留审计意见有显著的负反应。这说明我国投资者对比较清晰和易于理解的非限制性强调事项能作出判别,而对比较复杂的限制性强调事项缺乏辨别力,在不存在市场和投资者监督的压力下,必然会增加注册会计师利用限制性强调事项改变审计意见的动机,因此有必要通过政府监管手段来规范注册会计师出具带强调事项段的无保留审计意见的行为。在投资者信息识别能力较低的情况下,2003年和2006年审计报告准则对强调事项的内容加以限制是非常及时和必要的,通过对强调事项的严格限制可以约束注册会计师审计报告行为,抑制注册会计师利用强调事项段变通审计意见。Explanatory paragraph is a paragraph where the Certified Public Accountants explain some material events behind the opinion paragraph. There exists a phenomenon that is the CPA changes the nature of audit opinion with explanatory paragraph in Chinese capital market before 2003. So, the new modified audit report standard constrains the content of explanatory events in 2003 and 2006.This paper is based on the samples which are unqualified opinions with explanatory paragraph of the listed companies of Shanghai Stock Exchange and Shenzhen Stock Exchange from 2001 to 2003.This paper tests the investors＇ market reaction to the unqualified opinions with explanatory paragraph before and after 2003, and analyses the reasonability and consequence of this institutional change that is the new modified audit report standard constrains the content of explanatory events.

关 键 词：强调事项 无保留意见 市场反应 制度约束 

分 类 号：F830.91[经济管理—金融学]