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題名 會計師任期與財務報表重編及時性之關聯性研究：來自臺灣的證據
Auditor tenure and the timeliness of misstatement discovery: Evidence from Taiwan作者 羅萱容
Lo, Hsuan-Rong貢獻者 戚務君
羅萱容
Lo, Hsuan-Rong關鍵詞 會計師任期
會計師事務所任期
不實表達發現及時性
審計品質
強制輪調
Audit tenure
Audit firm tenure
Timeliness of misstatement discovery
Audit quality
Mandatory audit rotation日期 2019 上傳時間 7-Aug-2019 15:53:20 (UTC+8) 摘要 本研究以財務報表不實表達發現的及時性做為審計品質的代理變數，以我國上市上櫃企業為樣本，分析會計師與會計師事務所任期是否會影響審計品質。研究結果顯示，在較長的會計師事務所任期中，發現不實表達並更正的及時性較差，亦即事務所任期和審計質量存在負向關聯，與多數文獻的結果形成對比，但未能得出會計師任期與審計品質有關的結論。另外，發現在我國實施強制性輪調後，會計師任期及會計師事務所任期所帶來的效果已不顯著。
This study uses the timeliness of the misstatement detection of financial statements as the proxy variable of audit quality. Taking the listed company in Taiwan as sample, it analyzes whether audit tenure and audit firm tenure will affect the audit quality. We find that longer audit firm tenure leads to less timely discovery and correction of misstatements. Our findings provide evidence of a negative effect of long audit firm tenure on financial reporting quality, which contrast with the results of the majority of the literatures. Moreover, there is no statistical significant relationship between auditor tenure and audit quality. In addition, we find that after the mandatory rotation in Taiwan, the effect of the audit tenure is not significant.參考文獻 一、中文部分王茂昌、邱士宗，2010，公司治理中會計師的審計功能：以賽局理論分析，東吳經濟商學學報（68）：39-60。邱茗囷，2015，國際審計監理議題重要趨勢，證券暨期貨月刊（33）：15-27。張元、萬欣芝，2016，董事會兼職會影響新上市上櫃公司的後續績效表現嗎？兩岸金融季刊（4）：83-128。黃劭彥、林琦珍、田耕銘、陳冠甫，2011，強制會計師輪調環境下：轉換成本、代理成本、訴訟風險與前任會計師回任關聯性之研究，朝陽商管評論第10期（1）：75-100。曾煌鈞，2017，淺談家族企業之治理，證券暨期貨月刊（35）：32-47。羅贊興、陳逸珊、黃馨芸、黃馨儀，2004，美國企業改革法案(Sarbanes-Oxley Act of 2002)對我國上市公司管理制度適用性探討（下），證交資料（506）：26-60。二、英文部分Bamber, E., and L. Bamber. 2009. Discussion of: Mandatory audit partner rotation, audit quality, and market perception: Evidence from Taiwan. ContemporaryAccounting Research 26 (2): 393-402.Bandyopadhyay, S. P., C. Chen, and Y. Yu. 2014. Mandatory audit partner rotation, audit market concentration, and audit quality: Evidence from China. Advances in Accounting, incorporating Advances in International Accounting 30: 18-31.Boone, J. P., I. K. Khurana, and K. K. Raman. 2008. Audit firm tenure and the equity risk premium. Journal of Accounting Auditing and Finance 23(1): 115-140.Burns, N., and S. Kedia. 2006. The impact of performance-based compensation on misreporting. Journal of Financial Economics 79 (1): 35–67.Cameran, M., J. Francis, A. Marra, and A. Pettinicchio. 2015. Are there adverse consequences of mandatory auditor rotation? Evidence from the Italian experience. Auditing: A Journal of Practice and Theory 34 (1): 1-24.Carey, P., and R. Simnett. 2006. Audit partner tenure and audit quality. The Accounting Review 81 (3): 653-676.Chen, C., C. Lin, and Y. Lin. 2008. Audit partner tenure, audit firm tenure, and discretionary accruals: Does long auditor tenure impair earnings quality? Contemporary Accounting Research 25 (2): 415-445.Chen, E., and J. Nowland. 2010. Optimal board monitoring in family-owned companies: Evidence from Asia. Corporate Governance: An International Review 18(1): 3–17.Chi, W., H. Huang, Y. Liao, and H. Xie. 2009. Mandatory audit partner rotation, audit quality, and market perception: Evidence from Taiwan. Contemporary Accounting Research 26 (2): 359-391.Choi, J., H. Lim, and D. Mali. 2017. Mandatory audit firm rotation and big4 effect on audit quality: Evidence from South Korea. Asian Academy of Management Journal of Accounting and Finance 13 (1): 1-40.Core, J. E., R. W. Holthausen, and D. F. Larcker. 1999. Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics 51(3): 371-406.Crabtree, A. D., D. M. Brandon, and J. J. Maher. 2006. The impact of auditor tenure on initial bond ratings. Advances in Accounting 22(1): 97-121.Daily, C. and D. Dalton. 1993. Board of directors leadership and structure: Control and performance implications. Journal of Financial Economics 1: 55-64.DeAngelo, L., E. 1981a. Auditor independence, low balling, and disclosure regulation. Journal of Accounting and Economics 3(2): 113-127.DeAngelo, L., E. 1981b. Auditor size and audit quality. Journal of Accounting and Economics 3(3): 183-199.Fargher, N., L., H. Y. Lee, and V. Mande. 2008. The effect of audit partner tenure on client managers’ accounting discretion. Managerial Auditing Journal 23(January): 161-186.Ferris, S. P., M. Jagannatha, and A. C. Pritchard. 2003. Too busy to mind the business? Monitoring by directors with multiple board appointments. The Journal of Finance 58(3): 1087-1111.Gates, S. K., D. J. Lowe, and R. P. M. Jeckers. 2007. Restoring public confidence in capital markets through auditor rotation. Managerial Auditing Journal 22(1): 5-17.Harris, K., and S. Whisenant. 2012. Mandatory audit rotation: An international investigation. Working paper, University of Houston.Hohenfels, D. 2016. Auditor tenure and perceived earnings quality. International Journal of Auditing 20(3): 224-238.Jennings, M. M., K. J. Pany, and P. M. J. Reckers. 2006. Strong corporate governance and audit firm rotation: Effects on judges’ independence perceptions and litigation judgments. Accounting Horizons 20(3): 253-270.Jiang, J., I. Y. Wang, and K. P. Wang. 2019. Big N auditors and audit quality: New evidence from quasi-experiments. The Accounting Review 94(1): 205-227.Johnson, V., I. Khurana, and J. Reynolds. 2002. Audit-firm tenure and the quality of financial reports. Contemporary Accounting Research 19 (4): 637-660.Kinney, W., and R. Martin. 1994. Does auditing reduce bias in financial reporting? A review of audit-related adjustment studies. Auditing: A Journal of Practice and Theory 13 (1): 149-159.Knapp, M. C. 1991. Factors that audit committee members use as surrogates for audit quality. Auditing: A Journal of Practice and Theory 10(1): 35-52.Kwon, S. Y., Y. D. Lim, and R. Simnett. 2014. The effect of mandatory audit firm rotation on audit quality and audit fees: Empirical evidence from the Korean audit market. Auditing: A Journal of Practice and Theory 33 (4): 167-195.Lennox, C., X. Wu, and T. Zhang. 2014. Does mandatory rotation of audit partners improve audit quality? The Accounting Review 89(5): 1775-1803.Lennox, C., X. Wu, and T. Zhang. 2015. The effect of audit adjustment on earning quality: Evidence from China. Journal of Accounting and Economics 61(2-3):545-562.Lennox, C. 2014. Auditor tenure and rotation. In The Routledge companion to auditing, Chapter8, edited by D. Hay, W.R. Knechel, and M. Willekens. New York, NY: Routledge: 89-106.Mansi, S., W. Maxwell, and D. Miller. 2004. Does auditor quality and tenure matter to investors? Evidence from the bond market. Journal of Accounting Research 42 (4): 755–793.Newman, D. P., E. A. Patterson, and J. R. Smith, 2005. The role of auditing in investor protection. The Accounting Review 80(1): 289-313.Ottosson, J., and F. Jönsson. 2015. Mandatory rotation of audit firms: A study on the investors’ view points in the EU and the US. Working paper, Jönkoping International Business School.Palmrose, Z-V., V. Richardson, and W. Scholz. 2004. Determinants of market reaction to restatement announcements. Journal of Accounting and Economics 37 (1): 59–89.PCAOB. 2011. Concept release on auditor independence and audit firm rotation. Available at: https://pcaobus.org/Rulemaking/Docket037/Release_2011-006.pdfPittman, J., L. Wang, and D.Wu. 2018. Network analysis of audit partner rotation. SSRN Electronic Journal (August).Available athttps://ssrn.com/abstract=3087491.PwC, 2015, Regulatory briefing, September, 2015. Available at: https://www.pwc.com/gx/en/audit-services/assets/regulatory-briefing-sept-2015.pdfPwC, 2016a, Regulatory briefing, April, 2016. Available at: https://www.pwc.com/gx/en/audit-services/assets/regulatory-briefing-april-2016.pdfPwC, 2016b, Regulatory briefing, July, 2016. Available at: https://www.pwc.com/gx/en/about/assets/pwc-regulatory-briefing-july-2016.pdfPwC, 2016c, Regulatory briefing, November, 2016. Available at: https://www.pwc.com/gx/en/about/assets/pwc-regulatory-briefing-november-2016.pdfPwC, 2017, Regulatory briefing, March, 2017. Available at: https://www.pwc.com/gx/en/about/assets/pwc-regulatory-briefing-march-2017.pdfRuiz-Barbadillo, E., N. Gomez-Aguilar, and N. Carrera. 2009. Does mandatory audit firm rotation enhance auditor independence? Evidence from Spain. Auditing: A Journal of Practice and Theory 28 (1): 113-135.Shockley, R. A. 1981. Perceptions of auditors’ independence: An empirical analysis. The Accounting Review 54(4): 785-800.Singer, Z., and J. Zhang. 2018. Auditor tenure and the timeliness of misstatement discovery. The Accounting Review 93(2): 315-338.Solomon, I., M. D. Shields, and O. R. Whittington. 1999. What do industry specialistauditors know? Journal of Accounting Research 37(1): 191-208.Stanley, J., and F. DeZoort. 2007. Audit firm tenure and financial restatements: An analysis of industry specialization and fee effects. Journal of Accounting and Public Policy 26 (2): 131-159.U.S. House of Representatives. 2013. Audit integrity and job protection act. [H.R. 1564] 113th Congress. Washington, DC: Government Printing Office.US GAO. 2003. Required study on the potential effects of mandatory audit firm rotation. Available at: https://www.gao.gov/products/GAO-04-216.Weir, C., and D. Laing. 2001. Governance structures, director independence and corporate performance in the UK. European Business Review (13): 86-95. 描述 碩士
國立政治大學
會計學系
106353018資料來源 http://thesis.lib.nccu.edu.tw/record/#G0106353018 資料類型 thesis dc.contributor.advisor 戚務君 zh_TW dc.contributor.author (Authors) 羅萱容 zh_TW dc.contributor.author (Authors) Lo, Hsuan-Rong en_US dc.creator (作者) 羅萱容 zh_TW dc.creator (作者) Lo, Hsuan-Rong en_US dc.date (日期) 2019 en_US dc.date.accessioned 7-Aug-2019 15:53:20 (UTC+8) - dc.date.available 7-Aug-2019 15:53:20 (UTC+8) - dc.date.issued (上傳時間) 7-Aug-2019 15:53:20 (UTC+8) - dc.identifier (Other Identifiers) G0106353018 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/124657 - 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) 106353018 zh_TW dc.description.abstract (摘要) 本研究以財務報表不實表達發現的及時性做為審計品質的代理變數，以我國上市上櫃企業為樣本，分析會計師與會計師事務所任期是否會影響審計品質。研究結果顯示，在較長的會計師事務所任期中，發現不實表達並更正的及時性較差，亦即事務所任期和審計質量存在負向關聯，與多數文獻的結果形成對比，但未能得出會計師任期與審計品質有關的結論。另外，發現在我國實施強制性輪調後，會計師任期及會計師事務所任期所帶來的效果已不顯著。 zh_TW dc.description.abstract (摘要) This study uses the timeliness of the misstatement detection of financial statements as the proxy variable of audit quality. Taking the listed company in Taiwan as sample, it analyzes whether audit tenure and audit firm tenure will affect the audit quality. We find that longer audit firm tenure leads to less timely discovery and correction of misstatements. Our findings provide evidence of a negative effect of long audit firm tenure on financial reporting quality, which contrast with the results of the majority of the literatures. Moreover, there is no statistical significant relationship between auditor tenure and audit quality. In addition, we find that after the mandatory rotation in Taiwan, the effect of the audit tenure is not significant. en_US dc.description.tableofcontents 第一章 緒論 1第一節 研究動機與目的 1第二節 研究問題 2第二章 會計師輪調制度 3第一節 我國輪調規範 3第一節 美國輪調規範 4第一節 歐盟輪調規範 6第一節 中國輪調規範 7第一節 其他國家輪調規範 8第三章 文獻探討與假說發展 11第一節 審計任期 11第二節 審計品質之衡量 16第二節 公司治理因素 17第二節 假說發展 19第四章 研究設計 20第一節 變數定義與實證模型 20第二節 樣本選取與資料來源 21第五章 實證結果 23第一節 敘述性統計 23第二節 迴歸結果分析 30第六章 結論 36第一節 研究結論 36第二節 研究限制 37參考文獻 38 zh_TW dc.format.extent 642101 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0106353018 en_US dc.subject (關鍵詞) 會計師任期 zh_TW dc.subject (關鍵詞) 會計師事務所任期 zh_TW dc.subject (關鍵詞) 不實表達發現及時性 zh_TW dc.subject (關鍵詞) 審計品質 zh_TW dc.subject (關鍵詞) 強制輪調 zh_TW dc.subject (關鍵詞) Audit tenure en_US dc.subject (關鍵詞) Audit firm tenure en_US dc.subject (關鍵詞) Timeliness of misstatement discovery en_US dc.subject (關鍵詞) Audit quality en_US dc.subject (關鍵詞) Mandatory audit rotation en_US dc.title (題名) 會計師任期與財務報表重編及時性之關聯性研究：來自臺灣的證據 zh_TW dc.title (題名) Auditor tenure and the timeliness of misstatement discovery: Evidence from Taiwan en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) 一、中文部分王茂昌、邱士宗，2010，公司治理中會計師的審計功能：以賽局理論分析，東吳經濟商學學報（68）：39-60。邱茗囷，2015，國際審計監理議題重要趨勢，證券暨期貨月刊（33）：15-27。張元、萬欣芝，2016，董事會兼職會影響新上市上櫃公司的後續績效表現嗎？兩岸金融季刊（4）：83-128。黃劭彥、林琦珍、田耕銘、陳冠甫，2011，強制會計師輪調環境下：轉換成本、代理成本、訴訟風險與前任會計師回任關聯性之研究，朝陽商管評論第10期（1）：75-100。曾煌鈞，2017，淺談家族企業之治理，證券暨期貨月刊（35）：32-47。羅贊興、陳逸珊、黃馨芸、黃馨儀，2004，美國企業改革法案(Sarbanes-Oxley Act of 2002)對我國上市公司管理制度適用性探討（下），證交資料（506）：26-60。二、英文部分Bamber, E., and L. Bamber. 2009. Discussion of: Mandatory audit partner rotation, audit quality, and market perception: Evidence from Taiwan. ContemporaryAccounting Research 26 (2): 393-402.Bandyopadhyay, S. P., C. Chen, and Y. Yu. 2014. Mandatory audit partner rotation, audit market concentration, and audit quality: Evidence from China. Advances in Accounting, incorporating Advances in International Accounting 30: 18-31.Boone, J. P., I. K. Khurana, and K. K. Raman. 2008. Audit firm tenure and the equity risk premium. Journal of Accounting Auditing and Finance 23(1): 115-140.Burns, N., and S. Kedia. 2006. The impact of performance-based compensation on misreporting. Journal of Financial Economics 79 (1): 35–67.Cameran, M., J. Francis, A. Marra, and A. Pettinicchio. 2015. Are there adverse consequences of mandatory auditor rotation? Evidence from the Italian experience. Auditing: A Journal of Practice and Theory 34 (1): 1-24.Carey, P., and R. Simnett. 2006. Audit partner tenure and audit quality. The Accounting Review 81 (3): 653-676.Chen, C., C. Lin, and Y. Lin. 2008. Audit partner tenure, audit firm tenure, and discretionary accruals: Does long auditor tenure impair earnings quality? Contemporary Accounting Research 25 (2): 415-445.Chen, E., and J. Nowland. 2010. Optimal board monitoring in family-owned companies: Evidence from Asia. Corporate Governance: An International Review 18(1): 3–17.Chi, W., H. Huang, Y. Liao, and H. Xie. 2009. Mandatory audit partner rotation, audit quality, and market perception: Evidence from Taiwan. Contemporary Accounting Research 26 (2): 359-391.Choi, J., H. Lim, and D. Mali. 2017. Mandatory audit firm rotation and big4 effect on audit quality: Evidence from South Korea. Asian Academy of Management Journal of Accounting and Finance 13 (1): 1-40.Core, J. E., R. W. Holthausen, and D. F. Larcker. 1999. Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics 51(3): 371-406.Crabtree, A. D., D. M. Brandon, and J. J. Maher. 2006. The impact of auditor tenure on initial bond ratings. Advances in Accounting 22(1): 97-121.Daily, C. and D. Dalton. 1993. Board of directors leadership and structure: Control and performance implications. Journal of Financial Economics 1: 55-64.DeAngelo, L., E. 1981a. Auditor independence, low balling, and disclosure regulation. Journal of Accounting and Economics 3(2): 113-127.DeAngelo, L., E. 1981b. Auditor size and audit quality. Journal of Accounting and Economics 3(3): 183-199.Fargher, N., L., H. Y. Lee, and V. Mande. 2008. The effect of audit partner tenure on client managers’ accounting discretion. Managerial Auditing Journal 23(January): 161-186.Ferris, S. P., M. Jagannatha, and A. C. Pritchard. 2003. Too busy to mind the business? Monitoring by directors with multiple board appointments. The Journal of Finance 58(3): 1087-1111.Gates, S. K., D. J. Lowe, and R. P. M. Jeckers. 2007. Restoring public confidence in capital markets through auditor rotation. Managerial Auditing Journal 22(1): 5-17.Harris, K., and S. Whisenant. 2012. Mandatory audit rotation: An international investigation. Working paper, University of Houston.Hohenfels, D. 2016. Auditor tenure and perceived earnings quality. International Journal of Auditing 20(3): 224-238.Jennings, M. M., K. J. Pany, and P. M. J. Reckers. 2006. Strong corporate governance and audit firm rotation: Effects on judges’ independence perceptions and litigation judgments. Accounting Horizons 20(3): 253-270.Jiang, J., I. Y. Wang, and K. P. Wang. 2019. Big N auditors and audit quality: New evidence from quasi-experiments. The Accounting Review 94(1): 205-227.Johnson, V., I. Khurana, and J. Reynolds. 2002. Audit-firm tenure and the quality of financial reports. Contemporary Accounting Research 19 (4): 637-660.Kinney, W., and R. Martin. 1994. Does auditing reduce bias in financial reporting? A review of audit-related adjustment studies. Auditing: A Journal of Practice and Theory 13 (1): 149-159.Knapp, M. C. 1991. Factors that audit committee members use as surrogates for audit quality. Auditing: A Journal of Practice and Theory 10(1): 35-52.Kwon, S. Y., Y. D. Lim, and R. Simnett. 2014. The effect of mandatory audit firm rotation on audit quality and audit fees: Empirical evidence from the Korean audit market. Auditing: A Journal of Practice and Theory 33 (4): 167-195.Lennox, C., X. Wu, and T. Zhang. 2014. Does mandatory rotation of audit partners improve audit quality? The Accounting Review 89(5): 1775-1803.Lennox, C., X. Wu, and T. Zhang. 2015. The effect of audit adjustment on earning quality: Evidence from China. Journal of Accounting and Economics 61(2-3):545-562.Lennox, C. 2014. Auditor tenure and rotation. In The Routledge companion to auditing, Chapter8, edited by D. Hay, W.R. Knechel, and M. Willekens. New York, NY: Routledge: 89-106.Mansi, S., W. Maxwell, and D. Miller. 2004. Does auditor quality and tenure matter to investors? Evidence from the bond market. Journal of Accounting Research 42 (4): 755–793.Newman, D. P., E. A. Patterson, and J. R. Smith, 2005. The role of auditing in investor protection. The Accounting Review 80(1): 289-313.Ottosson, J., and F. Jönsson. 2015. Mandatory rotation of audit firms: A study on the investors’ view points in the EU and the US. Working paper, Jönkoping International Business School.Palmrose, Z-V., V. Richardson, and W. Scholz. 2004. Determinants of market reaction to restatement announcements. Journal of Accounting and Economics 37 (1): 59–89.PCAOB. 2011. Concept release on auditor independence and audit firm rotation. Available at: https://pcaobus.org/Rulemaking/Docket037/Release_2011-006.pdfPittman, J., L. Wang, and D.Wu. 2018. Network analysis of audit partner rotation. SSRN Electronic Journal (August).Available athttps://ssrn.com/abstract=3087491.PwC, 2015, Regulatory briefing, September, 2015. Available at: https://www.pwc.com/gx/en/audit-services/assets/regulatory-briefing-sept-2015.pdfPwC, 2016a, Regulatory briefing, April, 2016. Available at: https://www.pwc.com/gx/en/audit-services/assets/regulatory-briefing-april-2016.pdfPwC, 2016b, Regulatory briefing, July, 2016. Available at: https://www.pwc.com/gx/en/about/assets/pwc-regulatory-briefing-july-2016.pdfPwC, 2016c, Regulatory briefing, November, 2016. Available at: https://www.pwc.com/gx/en/about/assets/pwc-regulatory-briefing-november-2016.pdfPwC, 2017, Regulatory briefing, March, 2017. Available at: https://www.pwc.com/gx/en/about/assets/pwc-regulatory-briefing-march-2017.pdfRuiz-Barbadillo, E., N. Gomez-Aguilar, and N. Carrera. 2009. Does mandatory audit firm rotation enhance auditor independence? Evidence from Spain. Auditing: A Journal of Practice and Theory 28 (1): 113-135.Shockley, R. A. 1981. Perceptions of auditors’ independence: An empirical analysis. The Accounting Review 54(4): 785-800.Singer, Z., and J. Zhang. 2018. Auditor tenure and the timeliness of misstatement discovery. The Accounting Review 93(2): 315-338.Solomon, I., M. D. Shields, and O. R. Whittington. 1999. What do industry specialistauditors know? Journal of Accounting Research 37(1): 191-208.Stanley, J., and F. DeZoort. 2007. Audit firm tenure and financial restatements: An analysis of industry specialization and fee effects. Journal of Accounting and Public Policy 26 (2): 131-159.U.S. House of Representatives. 2013. Audit integrity and job protection act. [H.R. 1564] 113th Congress. Washington, DC: Government Printing Office.US GAO. 2003. Required study on the potential effects of mandatory audit firm rotation. Available at: https://www.gao.gov/products/GAO-04-216.Weir, C., and D. Laing. 2001. Governance structures, director independence and corporate performance in the UK. European Business Review (13): 86-95. zh_TW dc.identifier.doi (DOI) 10.6814/NCCU201900437 en_US
