关键审计事项与审计保险价值——基于审计师保险动机与投资者反应的双维度检验  

Key Audit Matters and Audit Insurance Value: Based on a Two-dimensional Test of Auditor’s Insurance Motivation and Investor Reaction

作　　者：李晓月 肖翔[1] 贾丽桓 LI Xiaoyue;XIAO Xiang;JIA Lihuan(School of Economics and Management,Beijing Jiaotong University,Beijing 100044,China)

机构地区：[1]北京交通大学经济管理学院,北京100044

出　　处：《经济经纬》2021年第4期83-92,共10页Economic Survey

基　　金：中央高校基本科研业务费专项资金资助(2020YJS230);国家社会科学基金项目(19BGJ001);国家铁路局项目(KF2019012A)。

摘　　要：以2014—2019年沪深A股上市公司为样本,从审计师保险动机与投资者反应两个维度检验新审计报告准则下,披露关键审计事项是否具有保险价值,并检验差异化的披露特征是否代表不同水平的保险价值。研究发现:(1)披露关键审计事项的公司会被要求支付更高的保险性审计费用,获得投资者更积极的反应,并使用DID及DID-PSM模型,验证其产生了增量保险价值;(2)事项数量、是否利用专家执行审计程序及是否发表结论性评价的特征差异表现出不同程度的保险价值,但特征差异在两个维度的检验结果发生背离,说明披露关键审计事项对投资者反应的影响并不仅仅表现为保险价值。研究结论有助于市场了解准则的推行效果,对市场主体的行为选择具有一定的指导意义。Taking Shanghai and Shenzhen A-share listed companies from 2014 to 2019 as samples, this paper examines whether the disclosure of key audit matters has insurance value under the new audit report standards from the two dimensions of auditor insurance motivation and investor response, and tests whether the differentiated disclosure characteristics represent different levels of insurance value. The results are as follows:(1) Companies that disclose key audit matters will be required to pay higher insurance audit fees, and get a more positive response from investors. The paper uses DID and DID-PSM models to verify that they generated incremental insurance value.(2) Although the characteristic differences of the number of matters, whether to invite the experts to carry out audit procedures and whether to express concluding evaluations show different degrees of insurance value, the results of characteristic differences deviate in two dimensions which indicates that the impact of disclosure of key audit matters on the response of investors is not only insurance value. The conclusions are helpful for the market to understand the effect of new auditing reporting standards and has certain guiding significance for the behavioral choice of market subjects.

关 键 词：关键审计事项 保险价值 保险性审计费用 投资者反应 披露特征 

分 类 号：F239.4[经济管理—会计学]