A Positive Research Based On Audit Opinions Influenced By Risk Factors Of Listed Companies

Economic globalization makes the enterprise survival environment have becomeincreasingly complex, and the risk that increases with it brings great challenge toenterprise’s sustainable management. In order to adapt to environmental changes, regulatethe behavior of audit, and improve the audit quality, in2006China promulgated the newauditing standards for the certified public accountants, marking the beginning of modernrisk oriented audit model established formally in our country. Accordingly, audit idea turnsfrom traditional risk-oriented mode that only requires audit program implemented in place,into a modern risk-oriented mode that requires audit risk controlled in place. CPA’s auditrisk derives from the risk of the audited units, if CPA did not appropriately identity, assessand deal with the various risk factors, the probability that they issue the inappropriate auditopinion would increase, accordingly the CPA’s audit risk would increase. Therefore, a keengrasp of the audited units risk is the key link from the source to control the audit risk. From2007the new auditing standards has been implemented for5years, did the certified publicaccountant according to the auditing standards fully consider how the various risk factors ofthe audited units impact on financial statements when they audit the enterprise report form?What kind of relation between risk level of the audited units and audit opinion? To studythese problems contribute to test the implementation of the new auditing standards and theapplication effect of modern risk-oriented audit.In view of this, this article selects2008–2010data of the stock companies listed onthe main board of the Shenzhen Stock Exchange as the research object, using logisticregression method from the legal risk, financial risk and earnings management risk toresearch the influence of risks on audit opinion of listed companies. The results of empiricalstudy are that, after controlling the effects of other factors, the legal risk and non-standardaudit opinions have significantly positive correlation, short-term solvency index of listedcompanies （for example：quick ratio, cash flow interest protection, etc）and non standardaudit opinion have significant negative correlation, but the discretionary accruals and thenon-standard audit opinion of listed companies did not have a statistically significantcorrelation. This indicates that when auditing the listed company annual report, the certifiedpublic accountants have paid more attention to legal risk and financial risk that will directly impact on the continued operating of the company, but earnings management risk has notbeen one of the factors influencing audit opinions.