Independent Audit Of The Impact Of The Company's True Operating Results

Independent audit as an aspect of corporate governance is how to affect business performance? So far, many studies of corporate governance at home and abroad, mainly form the internal governance such as ownership structure, board structure, capital structure can affect operating results, but perspective from outside governance has little。Therefore, in view of this, this article attempts to examine the independent audit how to affect Company's operating results form the corporate governance angle and to explore the driving force of the audit in corporate governance. On the one hand, help to strengthen corporate governance, improve the level of corporate governance, then to improve business performance; on the other hand, make sure the meaning of the audit and proposed countermeasures to improve the quality of independent audit.The article first outlines the theoretical background and practical Significance, and then summarized the research tendency about the independent audit and business performance, and then it analyzes the present situation of independent audit. Then, listed the relevant data of companies in China from 2007 to 2009 for the samples, constructed a multiple regression model to study the relationship between The scale of Certified Public Accountants,audit fees,audit opinion and the company's true operating results with the control variables of company size, financial leverage,.growth ability, the ratio of the top five shareholders. Next, empirical test annual samples and mixed samples respectively, including descriptive statistics, correlation tests, collinearity diagnostics, single factor analysis and multiple regression analysis, to observe the relationship between the scale of the Certified Public Accountants,audit fees,audit opinion type and the company's true operating performance.Findings are:(1) in general, there is a significantly positive relation between The scale of Certified Public Accountants and the company's true operating performance. The larger the scale of Certified Public Accountants, the higher the audit quality, independent audit can play the role of corporate governance to help the company increase the true operating performance more. (2) audit fees is positively related to operating performance, indicating that the accountants in order to obtain higher charges must pay more manpower, resources, time and effort to ensure the quality of audit work, the listed companies pay high audit fees to ensure the true and reliable operating results. (3) Audit opinion as an alternative variable to the audit quality of the regression model, test results show that the true operating performance of the company with standard unqualified audit opinion is significantly higher than that of company with non-standard audit opinion, Non-standard audit opinion does not clearly represent the high quality audit standards.which this assumption is inconsistent with expectations.