An Empirical Study Of The Implementation Of New Auditing Standards And Auditing Fees

Independent audit has been playing a more and more important role in current capital market. Its essential role is as follows: to ensure capital market's function of resource distribution in gear, to safeguard the stability of the capital market, and even the stability of the whole social economy. However, whether independent audit can play above-mentioned roles depend on audit quality. As a signature, audit fees can influence audit quality from three aspects at least. Firstly, rational audit fees help to attract and concentrate high-quality auditing talents. Secondly, the resource that auditor input in the course of audit will be constrained by audit fees. Thirdly, the drastic competition of audit market may damage auditor's independent character .Now, there is a furious competition in our country'securities audit market. Some audit firms do not hesitate to accept the business at low price and injure audit quality seriously. It is urgent to study the state of audit fees behavior and support supervision measure of the supervision department.This paper did a empirical research mainly about the impact of the implement of the new audit criteria on the determination of audit fees using the latest data which publicly disclosed on the basis of drawing the western literature. We got 113 samples from the population after selecting in accordance with the relevant principles. We drawn the following conclusions by using empirical methods including descriptive statistics,relevance analysis and multiple regression :(1)the audit fees of 2007 got significant improved comparing with 2006;(2) the total assets of auditor,whether the audit firm"big four",consecutive audit years have significant impact in the determination of audit fees while the proportion of accounts receivable and inventory in the total assets,the area of the auditor locates not;(3) The implement of the new audit criteria has not important influents on the determination of audit fees yet.The innovation of this paper lies in the empirical research of impact of the implement of the new audit criteria on the determination of audit fees. We can do In-depth study on this topic later.