Empirical Study Of Factors Affecting Listed Companies Audit Opinion

With the rapidly development of the domestic stock market, the supervisor, investor etc paid more and more attention on audit opinion of CPAs. Since promulgating the "Independent Auditing Standards of China", risk-oriented audit mode has been established, and then CPAs issue the appropriate audit opinion based on audit risk. In the currently full of faith crisis audit market, are CPAs maintain their independence? And what exactly affect the issue of audit opinion? I am interested in those questions and that is what the author will discuss in this dissertation.This dissertation combined theoretical research and empirical research based on past studies. Firstly, this dissertation made analysis and summary based on the former study through reviewing of the literature from the perspectives of audit subject and audit object. Secondly, based on theoretical analysis of trust-agent theory, game theory and the correlation between corporate governance, earnings management and audit opinions, dissertation put forward the research hypothesis, set variables of influencing factors, and built the regression model. Thirdly, this dissertation chose the manufacturing-listed companies on the Shanghai and Shenzhen A-share stock market in years from2009to2012as the samples of the empirical study. Descriptive statistics, correlation analysis and logistic regression are used in this dissertation.Empirical study results indicated that the fee of independence, auditing age and the scale of accounting firm are significantly influencing the audit opinion. Thus, it’s necessary for accounting firm to endeavor to improve the audit quality. Most variables of the listed company governance structure have not this result as a whole except the biggest shareholders’nature and the setting of audit committee. It does not mean that they have no effect on audit opinion, perfecting the internal governance structure of listed companies is the key to improve the quality of financial statements. Due to the development of the risk-oriented audit mode, CPAs focused more on management risk of the listed companies during the audit. Similarly, reflecting the operating risk of listed companies out of ROE, the other six indicators are significantly associated with the audit opinion type. CPAs have the capacity to distinguish the earning management of the listed companies, but CPAs treat them differently. They are very cautious to the earning management of keeping the listed qualification which results to modified opinion finally. However, they pay less attention on the earning management of keeping the refinancing qualification.Lastly, according to the empirical results, we analyzed the problems in listed company auditing to which this dissertation put forward the corresponding measures.The innovation of this dissertation mainly reflects in the three followings:1、For the selection of samples, this dissertation selected the2009-2012annual reports data of manufacturing listed companies from A-share security markets, which are more stable and representative, getting more accurate verification results.2、This dissertation distinguished two prospective affecting the listed companies audit opinion. We adopted logistical binary regression analysis method from the aspects of audit subject and audit object confirmed that both can affect the auditing opinions of certified public accountants.3、In this paper, we explored the problems existing in the audit of listed companies in China and tried to put forward corresponding suggestions by analyzing the influence factors of manufacturing listed companies audit opinion type.