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在理论研究方面,本文尝试从独立审计的视角探讨公司外部治理机制对财务重述的抑制作用,并且从不同审计质量下财务重述的经济后果方面对审计机构变更现象给出新的理论解释。在实证分析方面,本文以2008~2012年中国沪深主板上市公司为研究样本,探讨审计质量对财务重述的影响,并进一步考察财务重述对审计机构变更的影响。研究发现:①高质量的独立审计降低了上市公司财务重述和严重性财务重述的概率;②发生财务重述的上市公司比没有发生财务重述的上市公司更有可能变更审计机构,如果发生的是严重性财务重述,其变更审计机构的概率更大;③公司发生财务重述和严重性财务重述时,由高质量会计师事务所审计的公司比由低质量会计师事务所审计的公司更有可能变更审计机构。
In the aspect of theoretical research, this paper tries to explore the inhibitory effect of external governance mechanism on financial restatement from the perspective of independent audit, and gives a new theoretical explanation on the change phenomenon of audit institutions from the economic consequences of financial restatements under different audit quality. In the empirical analysis, this paper takes the listed companies in China’s Shenzhen and Shenzhen stock exchanges from 2008 to 2012 as a sample to discuss the impact of audit quality on financial restatements, and further investigate the impact of financial restatements on the changes of auditing institutions. The findings are as follows: (1) High-quality independent auditing reduces the probability of financial restatement and serious restatement of financial statements of listed companies; (2) Listed companies with financial restatements are more likely to change audit institutions than listed companies without financial restatements The occurrence of a serious financial restatement, the probability of changing the audit institutions greater; ③ financial restatements and serious financial restatements, the company audited by a high-quality accounting firm audited by a low-quality accounting firm Companies are more likely to change audit institutions.