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題名 PCAOB檢查影響會計師事務所審計品質之跨國比較
The Effects of PCAOB International Inspection on Audit Quality：A Cross-country Comparison
作者 王運楓
貢獻者 周玲臺
王運楓
關鍵詞 PCAOB國際檢查
國家特性
審計品質
裁決性應計數
PCAOB international inspections
Country characteristic
Audit quality
Discretionary accruals
日期 2016
上傳時間 11-Jul-2016 16:54:19 (UTC+8)
摘要 　　自2005年開始PCAOB對外國之註冊會計師事務所進行國際檢查，至今已逾十年，然而制度實施之初面臨許多質疑。而今，已有文獻指出不論是美國或是其他國家，PCAOB的檢查皆具有一定效益，且具有外溢效果。惟各國間的國家特性因素於目前文獻中尚有發展空間，因此本研究欲了解國家特性是否會影響PCAOB國際檢查的外溢效果。
　　本研究以2004年至2013年間35國的資料計算裁決性應計數，以此代理審計品質，觀察各國審計品質於檢查前後的變化，並以法規執行力以及四大會計師事務所市占率代理國家特性，進一步了解不同特性的國家，其審計品質改變幅度的差異。
　　根據實證結果發現，當一國的法規執行力較高或是四大會計師事務所市占率較高時，審計品質較佳，因此於PCAOB國際檢查後審計品質提升幅度較小。各國的準則制定機構可透過本研究的國家分類，量身訂定更符合國家的準則，以改善審計品質。
Since 2005, PCAOB has inspected foreign registered audit firms for a period over ten years. The benefits of inspection in both the United States and other countries are documented by extant literature, but the research of country characteristics on the spillover benefits is still lacking. In this study, we document how country characteristics influence the spillover effect of PCAOB international inspection on audit quality.
This study uses discretionary accruals as the proxy of audit quality. Our data of non-US-listed companies from 35 countries during 2004-2013 are taken from Datastream. In addition, we use legal enforcement and Big 4 dominance to investigate how country characteristics affect the magnitude of audit quality changes.
According to empirical results, we find that countries with higher legal enforcement or Big 4 dominance provide better audit quality. Therefore, PCAOB international inspections in these countries generate smaller magnitude of audit quality improvement than in countries with lower legal enforcement and Big 4 dominance . Our results suggest that regulators of different countries should develop more tailored regulation in order to improve audit quality of their respective countries.
參考文獻 一、中文文獻
官月緞、簡松源與徐永檳，2008，會計弊案與財務報導保守性－安隆／博達觀察，當代會計，第9卷第1期：69-109。
林孝倫與林嬋娟，2013，臺灣審計研究之回顧與前瞻，會計審計論叢，第3卷第1期：1-47。
廖秀梅與洪筱雯，2010，非審計服務、會計師任期與審計品質，當代會計，第11卷第2期：151-178。
陳銘賢，2007，從美國PCAOB及我國會計師法修正談會計師之監理改革，證券暨期貨月刊，第26卷第6期：16-30。

二、英文文獻
Abbott, L. J., K. Gunny, and T. Zhang. 2008. When the PCAOB talks, who listens? Evidence from client firm reaction to adverse, GAAP-deficient PCAOB inspection reports. Auditing: A Journal of Practice and Theory 32:1-31.
Ali, A., and L.-S. Hwang. 2000. Country-specific factors related to financial reporting and the value relevance of accounting data. Journal of Accounting Research 38:1-21.
Amin, K., J. Krishnan, and J. S. Yang. 2014. Going concern opinion and cost of equity. Auditing: A Journal of Practice & Theory 33:1-39.
Antle, R., and B. Nalebuff. 1991. Conservatism and auditor-client negotiations. Journal of Accounting Research 29:31-54.
Asthana, S. C., and J. P. Boone. 2012. Abnormal audit fee and audit quality. Auditing: A Journal of Practice & Theory 31:1-22.
Ball, R., S. Kothari, and A. Robin. 2000. The effect of international institutional factors on properties of accounting earnings. Journal of Accounting and Economics 29:1-51.
Becker, C. L., M. L. DeFond, J. Jiambalvo, and K. Subramanyam. 1998. The effect of audit quality on earnings management. International Reviews of Immunology 16:1-24.
Burgstahler, D., and I. Dichev. 1997. Earnings management to avoid earnings decreases and losses. Journal of Accounting and Economics 24:99-126.
Carcello, J. V., C. Hollingsworth, and S. A. Mastrolia. 2011. The effect of PCAOB inspections on Big 4 audit quality. Research in Accounting Regulation 23:85-96.
Chow, C. W., and S. J. Rice. 1982. Qualified audit opinions and auditor switching. The Accounting Review 57:326-335.
DeAngelo, L. E. 1981a. Auditor independence,‘low balling’, and disclosure regulation. Journal of Accounting and Economics 3:113-127.
———. 1981b. Auditor size and audit quality. Journal of Accounting and Economics 3:183-199.
Dechow, P. M. 1994. Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals. Journal of Accounting and Economics 18:3-42.
Dechow, P. M., R. G. Sloan, and A. P. Sweeney. 1995. Detecting earnings management. The Accounting Review 70:193-225.
Dee, C. C., A. Lulseged, and T. Zhang. 2011. Client Stock Market Reaction to PCAOB Sanctions Against a Big 4 Auditor. Contemporary Accounting Research 28:263-291.
DeFond, M., and J. Zhang. 2014. A review of archival auditing research. Journal of Accounting and Economics 58:275-326.
DeFond, M. L. 2010. How should the auditors be audited? Comparing the PCAOB inspections with the AICPA peer reviews. Journal of Accounting and Economics 49:104-108.
DeFond, M. L., and C. S. Lennox. 2011. The effect of SOX on small auditor exits and audit quality. Journal of Accounting and Economics 52:21-40.
Durnev, A., and E. Kim. 2005. To steal or not to steal: Firm attributes, legal environment, and valuation. The Journal of Finance 60:1461-1493.
Endrawes, M., and G. S. Monroe. 2010. Professional Scepticism of Auditors: A Cross-Cultural Experiment. Working paper, University of Western Sydney.
Ettredge, M. L., C. Li, and L. Sun. 2006. The impact of SOX Section 404 internal control quality assessment on audit delay in the SOX era. Auditing: A Journal of Practice & Theory 25:1-23.
Francis, J. R. 2011. A framework for understanding and researching audit quality. Auditing: A Journal of Practice & Theory 30:125-152.
Francis, J. R., and J. Krishnan. 1999. Accounting Accruals and Auditor Reporting Conservatism. Contemporary Accounting Research 16:135-165.
Francis, J. R., P. N. Michas, and S. E. Seavey. 2013. Does Audit Market Concentration Harm the Quality of Audited Earnings? Evidence from Audit Markets in 42 Countries. Contemporary Accounting Research 30:325-355.
Fung, S. Y. K., K. Raman, and X. Zhu. 2014. Does the PCAOB’s international inspection program provide spillover audit quality benefits for investors abroad? Working paper, Hong Kong Polytechnic University.
Gramling, A. A., J. Krishnan, and Y. Zhang. 2011. Are PCAOB-identified audit deficiencies associated with a change in reporting decisions of triennially inspected audit firms? Auditing: A Journal of Practice & Theory 30:59-79.
Guenther, D. A., and D. Young. 2000. The association between financial accounting measures and real economic activity: A multinational study. Journal of Accounting and Economics 29:53-72.
Gunny, K. A., and T. C. Zhang. 2013. PCAOB inspection reports and audit quality. Journal of Accounting and Public Policy 32:136-160.
Habib, A. 2015. The New Chinese Accounting Standards and Audit Report Lag. International Journal of Auditing 19:1-14.
Healy, P. M. 1985. The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics 7:85-107.
Hofstede, G. 1984. Culture`s consequences: International differences in work-related values. Vol. 5: sage.
Hossain, S. 2013. Effect of Regulatory Changes on Auditor Independence and Audit Quality. International Journal of Auditing 17:246-264.
Jones, J. J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29:193-228.
Kaplan, S. E., and D. D. Williams. 2012. Do going concern audit reports protect auditors from litigation? A simultaneous equations approach. The Accounting Review 88:199-232.
Kleinman, G., B. B. Lin, and D. Palmon. 2014. Audit Quality A Cross-National Comparison of Audit Regulatory Regimes. Journal of Accounting, Auditing & Finance 29:61-87.
Kothari, S. P., A. J. Leone, and C. E. Wasley. 2005. Performance matched discretionary accrual measures. Journal of Accounting and Economics 39:163-197.
Krishnan, J. 1994. Auditor switching and conservatism. The Accounting Review 69:200-215.
Krishnan, J., J. Krishnan, and H. Song. 2014. PCAOB international inspection and audit quality. Working paper, Temple University.
La Porta, R., F. López de Silanes, A. Shleifer, and R. Vishny. 1998. Law and finance. Journal of Political Economy 106:1113-1155.
Leuz, C., D. Nanda, and P. D. Wysocki. 2003. Earnings management and investor protection: an international comparison. Journal of Financial Economics 69:505-527.
Lin, T. W. 2004. Corporate governance in China: Recent developments, key problems and solutions. Journal of Accounting and Corporate Governance 1:1-23.
Menon, K., and D. D. Williams. 2004. Former audit partners and abnormal accruals. The Accounting Review 79:1095-1118.
Michas, P. N. 2011. The importance of audit profession development in emerging market countries. The Accounting Review 86:1731-1764.
Minutti-Meza, M. 2013. Does Auditor Industry Specialization Improve Audit Quality? Journal of Accounting Research 51:779-817.
Mitra, S., H. Song, and J. S. Yang. 2015. The Effect of Auditing Standard No. 5 on Audit Report Lags. Accounting Horizons 29:507-527.
Myers, J. N., L. A. Myers, and T. C. Omer. 2003. Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory auditor rotation? The Accounting Review 78:779-799.
Notbohm, M., D. A. Ellingson, and K. Campbell. 2012. PCAOB Auditor Inspections and Foreign Auditors. The CPA Journal 82:32.
Prather-Kinsey, J., and S. W. Shelton. 2005. IAS versus US GAAP: Assessing the quality of financial reporting in South Africa, the United Kingdom, and the United States. Advances in International Accounting 18:153-168.
Press, E. G., and J. B. Weintrop. 1990. Accounting-based constraints in public and private debt agreements: Their association with leverage and impact on accounting choice. Journal of Accounting and Economics 12:65-95.
Stewart, E. G. 2012. PCAOB inspections and audit quality: Evidence from cross-listed securities. Working paper, Florida Atlantic University.
描述 碩士
國立政治大學
會計學系
103353039
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0103353039
資料類型 thesis
dc.contributor.advisor 周玲臺zh_TW
dc.contributor.author (Authors) 王運楓zh_TW
dc.creator (作者) 王運楓zh_TW
dc.date (日期) 2016en_US
dc.date.accessioned 11-Jul-2016 16:54:19 (UTC+8)-
dc.date.available 11-Jul-2016 16:54:19 (UTC+8)-
dc.date.issued (上傳時間) 11-Jul-2016 16:54:19 (UTC+8)-
dc.identifier (Other Identifiers) G0103353039en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/98842-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 會計學系zh_TW
dc.description (描述) 103353039zh_TW
dc.description.abstract (摘要) 　　自2005年開始PCAOB對外國之註冊會計師事務所進行國際檢查，至今已逾十年，然而制度實施之初面臨許多質疑。而今，已有文獻指出不論是美國或是其他國家，PCAOB的檢查皆具有一定效益，且具有外溢效果。惟各國間的國家特性因素於目前文獻中尚有發展空間，因此本研究欲了解國家特性是否會影響PCAOB國際檢查的外溢效果。
　　本研究以2004年至2013年間35國的資料計算裁決性應計數，以此代理審計品質，觀察各國審計品質於檢查前後的變化，並以法規執行力以及四大會計師事務所市占率代理國家特性，進一步了解不同特性的國家，其審計品質改變幅度的差異。
　　根據實證結果發現，當一國的法規執行力較高或是四大會計師事務所市占率較高時，審計品質較佳，因此於PCAOB國際檢查後審計品質提升幅度較小。各國的準則制定機構可透過本研究的國家分類，量身訂定更符合國家的準則，以改善審計品質。		zh_TW
dc.description.abstract (摘要) Since 2005, PCAOB has inspected foreign registered audit firms for a period over ten years. The benefits of inspection in both the United States and other countries are documented by extant literature, but the research of country characteristics on the spillover benefits is still lacking. In this study, we document how country characteristics influence the spillover effect of PCAOB international inspection on audit quality.
This study uses discretionary accruals as the proxy of audit quality. Our data of non-US-listed companies from 35 countries during 2004-2013 are taken from Datastream. In addition, we use legal enforcement and Big 4 dominance to investigate how country characteristics affect the magnitude of audit quality changes.
According to empirical results, we find that countries with higher legal enforcement or Big 4 dominance provide better audit quality. Therefore, PCAOB international inspections in these countries generate smaller magnitude of audit quality improvement than in countries with lower legal enforcement and Big 4 dominance . Our results suggest that regulators of different countries should develop more tailored regulation in order to improve audit quality of their respective countries.		en_US
dc.description.tableofcontents 第一章　緒論 1
第一節　研究動機與背景 1
第二節　研究問題 4
第三節　研究貢獻 6
第四節　論文章節 7
第二章　文獻探討 8
第一節　PCAOB國際檢查 8
第二節　國家特性 15
第三節　審計品質 20
第三章　研究方法 25
第一節　研究假說 25
第二節　樣本選取與資料蒐集 36
第三節　研究模型與變數衡量 40
第四章　實證結果 53
第一節　敘述性統計 53
第二節　相關係數分析 55
第三節　複廻歸結果分析 58
第四節　敏感性測試 65
第五章　結論與建議 74
第一節　研究結論 74
第二節　研究限制與研究建議 76
附錄 四大會計師事務所國家與產業市占率 78
參考文獻 87
一、中文文獻 87
二、英文文獻 87		zh_TW
dc.format.extent 1510081 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0103353039en_US
dc.subject (關鍵詞) PCAOB國際檢查zh_TW
dc.subject (關鍵詞) 國家特性zh_TW
dc.subject (關鍵詞) 審計品質zh_TW
dc.subject (關鍵詞) 裁決性應計數zh_TW
dc.subject (關鍵詞) PCAOB international inspectionsen_US
dc.subject (關鍵詞) Country characteristicen_US
dc.subject (關鍵詞) Audit qualityen_US
dc.subject (關鍵詞) Discretionary accrualsen_US
dc.title (題名) PCAOB檢查影響會計師事務所審計品質之跨國比較zh_TW
dc.title (題名) The Effects of PCAOB International Inspection on Audit Quality：A Cross-country Comparisonen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 一、中文文獻
官月緞、簡松源與徐永檳，2008，會計弊案與財務報導保守性－安隆／博達觀察，當代會計，第9卷第1期：69-109。
林孝倫與林嬋娟，2013，臺灣審計研究之回顧與前瞻，會計審計論叢，第3卷第1期：1-47。
廖秀梅與洪筱雯，2010，非審計服務、會計師任期與審計品質，當代會計，第11卷第2期：151-178。
陳銘賢，2007，從美國PCAOB及我國會計師法修正談會計師之監理改革，證券暨期貨月刊，第26卷第6期：16-30。

二、英文文獻
Abbott, L. J., K. Gunny, and T. Zhang. 2008. When the PCAOB talks, who listens? Evidence from client firm reaction to adverse, GAAP-deficient PCAOB inspection reports. Auditing: A Journal of Practice and Theory 32:1-31.
Ali, A., and L.-S. Hwang. 2000. Country-specific factors related to financial reporting and the value relevance of accounting data. Journal of Accounting Research 38:1-21.
Amin, K., J. Krishnan, and J. S. Yang. 2014. Going concern opinion and cost of equity. Auditing: A Journal of Practice & Theory 33:1-39.
Antle, R., and B. Nalebuff. 1991. Conservatism and auditor-client negotiations. Journal of Accounting Research 29:31-54.
Asthana, S. C., and J. P. Boone. 2012. Abnormal audit fee and audit quality. Auditing: A Journal of Practice & Theory 31:1-22.
Ball, R., S. Kothari, and A. Robin. 2000. The effect of international institutional factors on properties of accounting earnings. Journal of Accounting and Economics 29:1-51.
Becker, C. L., M. L. DeFond, J. Jiambalvo, and K. Subramanyam. 1998. The effect of audit quality on earnings management. International Reviews of Immunology 16:1-24.
Burgstahler, D., and I. Dichev. 1997. Earnings management to avoid earnings decreases and losses. Journal of Accounting and Economics 24:99-126.
Carcello, J. V., C. Hollingsworth, and S. A. Mastrolia. 2011. The effect of PCAOB inspections on Big 4 audit quality. Research in Accounting Regulation 23:85-96.
Chow, C. W., and S. J. Rice. 1982. Qualified audit opinions and auditor switching. The Accounting Review 57:326-335.
DeAngelo, L. E. 1981a. Auditor independence,‘low balling’, and disclosure regulation. Journal of Accounting and Economics 3:113-127.
———. 1981b. Auditor size and audit quality. Journal of Accounting and Economics 3:183-199.
Dechow, P. M. 1994. Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals. Journal of Accounting and Economics 18:3-42.
Dechow, P. M., R. G. Sloan, and A. P. Sweeney. 1995. Detecting earnings management. The Accounting Review 70:193-225.
Dee, C. C., A. Lulseged, and T. Zhang. 2011. Client Stock Market Reaction to PCAOB Sanctions Against a Big 4 Auditor. Contemporary Accounting Research 28:263-291.
DeFond, M., and J. Zhang. 2014. A review of archival auditing research. Journal of Accounting and Economics 58:275-326.
DeFond, M. L. 2010. How should the auditors be audited? Comparing the PCAOB inspections with the AICPA peer reviews. Journal of Accounting and Economics 49:104-108.
DeFond, M. L., and C. S. Lennox. 2011. The effect of SOX on small auditor exits and audit quality. Journal of Accounting and Economics 52:21-40.
Durnev, A., and E. Kim. 2005. To steal or not to steal: Firm attributes, legal environment, and valuation. The Journal of Finance 60:1461-1493.
Endrawes, M., and G. S. Monroe. 2010. Professional Scepticism of Auditors: A Cross-Cultural Experiment. Working paper, University of Western Sydney.
Ettredge, M. L., C. Li, and L. Sun. 2006. The impact of SOX Section 404 internal control quality assessment on audit delay in the SOX era. Auditing: A Journal of Practice & Theory 25:1-23.
Francis, J. R. 2011. A framework for understanding and researching audit quality. Auditing: A Journal of Practice & Theory 30:125-152.
Francis, J. R., and J. Krishnan. 1999. Accounting Accruals and Auditor Reporting Conservatism. Contemporary Accounting Research 16:135-165.
Francis, J. R., P. N. Michas, and S. E. Seavey. 2013. Does Audit Market Concentration Harm the Quality of Audited Earnings? Evidence from Audit Markets in 42 Countries. Contemporary Accounting Research 30:325-355.
Fung, S. Y. K., K. Raman, and X. Zhu. 2014. Does the PCAOB’s international inspection program provide spillover audit quality benefits for investors abroad? Working paper, Hong Kong Polytechnic University.
Gramling, A. A., J. Krishnan, and Y. Zhang. 2011. Are PCAOB-identified audit deficiencies associated with a change in reporting decisions of triennially inspected audit firms? Auditing: A Journal of Practice & Theory 30:59-79.
Guenther, D. A., and D. Young. 2000. The association between financial accounting measures and real economic activity: A multinational study. Journal of Accounting and Economics 29:53-72.
Gunny, K. A., and T. C. Zhang. 2013. PCAOB inspection reports and audit quality. Journal of Accounting and Public Policy 32:136-160.
Habib, A. 2015. The New Chinese Accounting Standards and Audit Report Lag. International Journal of Auditing 19:1-14.
Healy, P. M. 1985. The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics 7:85-107.
Hofstede, G. 1984. Culture`s consequences: International differences in work-related values. Vol. 5: sage.
Hossain, S. 2013. Effect of Regulatory Changes on Auditor Independence and Audit Quality. International Journal of Auditing 17:246-264.
Jones, J. J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29:193-228.
Kaplan, S. E., and D. D. Williams. 2012. Do going concern audit reports protect auditors from litigation? A simultaneous equations approach. The Accounting Review 88:199-232.
Kleinman, G., B. B. Lin, and D. Palmon. 2014. Audit Quality A Cross-National Comparison of Audit Regulatory Regimes. Journal of Accounting, Auditing & Finance 29:61-87.
Kothari, S. P., A. J. Leone, and C. E. Wasley. 2005. Performance matched discretionary accrual measures. Journal of Accounting and Economics 39:163-197.
Krishnan, J. 1994. Auditor switching and conservatism. The Accounting Review 69:200-215.
Krishnan, J., J. Krishnan, and H. Song. 2014. PCAOB international inspection and audit quality. Working paper, Temple University.
La Porta, R., F. López de Silanes, A. Shleifer, and R. Vishny. 1998. Law and finance. Journal of Political Economy 106:1113-1155.
Leuz, C., D. Nanda, and P. D. Wysocki. 2003. Earnings management and investor protection: an international comparison. Journal of Financial Economics 69:505-527.
Lin, T. W. 2004. Corporate governance in China: Recent developments, key problems and solutions. Journal of Accounting and Corporate Governance 1:1-23.
Menon, K., and D. D. Williams. 2004. Former audit partners and abnormal accruals. The Accounting Review 79:1095-1118.
Michas, P. N. 2011. The importance of audit profession development in emerging market countries. The Accounting Review 86:1731-1764.
Minutti-Meza, M. 2013. Does Auditor Industry Specialization Improve Audit Quality? Journal of Accounting Research 51:779-817.
Mitra, S., H. Song, and J. S. Yang. 2015. The Effect of Auditing Standard No. 5 on Audit Report Lags. Accounting Horizons 29:507-527.
Myers, J. N., L. A. Myers, and T. C. Omer. 2003. Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory auditor rotation? The Accounting Review 78:779-799.
Notbohm, M., D. A. Ellingson, and K. Campbell. 2012. PCAOB Auditor Inspections and Foreign Auditors. The CPA Journal 82:32.
Prather-Kinsey, J., and S. W. Shelton. 2005. IAS versus US GAAP: Assessing the quality of financial reporting in South Africa, the United Kingdom, and the United States. Advances in International Accounting 18:153-168.
Press, E. G., and J. B. Weintrop. 1990. Accounting-based constraints in public and private debt agreements: Their association with leverage and impact on accounting choice. Journal of Accounting and Economics 12:65-95.
Stewart, E. G. 2012. PCAOB inspections and audit quality: Evidence from cross-listed securities. Working paper, Florida Atlantic University.		zh_TW