Chinese A-shares Listed Company Audit Pricing Research

In today's society, external audit (CPA audit) plays a critical role in ensuring capital market to develop its function of allocating social resources and maintaining the stability of capital market and even the whole social economy. Audit fee is a direct economical link between accounting firms and listed companies, and is an important guarantee of audit quality and audit independence and an important part of economic market. The price of audit is the equilibrium outcome result of audit demand, audit supply and audit market. Therefore, the study of audit fee is.a very important topic in the audit research. Our country first requires the listed companies to disclose audit fees in 2001, scholars start to empirical research about audit fees on the basis of western relevant literature.The essay is based on the review of related literature and on the relevant knowledge, take the disclosed audit fee in annual report of A-share listed companies for two recent years 2009-2010 in stock markets as a sample, from the aspect of audit cost, audit risk, audit competition, corporate governance, selecting the final total assets, the rate of assets and liabilities, long-term liabilities rate, the rate of accounts receivable and total assets, flow rate, the proportion of shares in circulation, the top ten shareholders shareholdings, the number of board meetings, the number of independent directors, the type of audit opinion and so on such 13 factors as varies, designed to make an positive research into the influential factors of audit fee by constructing an audit fee model in our country. The empirical study shows that:there is close positive correlation between audit fee and the final total assets, whether to employ the "big four" for the audit, and the type of audit opinion; and there is close negative correlation between audit fee and long-term liabilities rate, whether to change accounting firms; and there is close correlation between audit fee and the proportion of shares in circulation, the top ten shareholders shareholdings, the number of board meetings only in 2009; and long-term liabilities rate, the type of audit opinion and whether to change accounting firms reflect audit risk, the result shows that registered accountants have considered the potential cost of audit risk when they determine the audit fee in our country. The study of audit fee is only a measure, the goal is to improve the level of Corporate Governance and norm the standard of audit fee, make more and more Public can know the company's financial condition through the disclosed audit fee. This is not only benefit to protect public interest, but also effect the resource allocation of capital market. According to the findings, the article puts forward some constructive policy advice.