| Investors are coming to realize that a healthy and effective internal control system is a good way to prevent the happening of financial fraud,and they pay more attention to the internal control of the companies they are interested in.The United States enacted the The Sarbanes-Oxley(SOX)Act in order to improve the situation of the serious financial fraud in the capital market.In the increasing cost,internal control audit fee caused much attention of scholars as the most important execution cost of the SOX act.Meanwhile,our government also issued relevant laws and regulations in order to promote the constant improvement of the internal control of the companies in our country,and made a series of mandatory requirement of the disclosure of internal control information and the internal control audit.Among them,the enterprise internal control supporting guidance carried out since January 1,2012 within the scope of main board listed company marked the final build of internal control system in our country.Most of past research mainly focus on the financial statements audit fee of listed companies,this paper pays attention to the internal control audit fees of listed companies.The research examines the influence factors of internal control audit fee both theoretically and empirically from three perspectives,including the angle of the listed company,the angle of CPA and the angle of macro environment factors,using part of the disclosure data of internal control audit fees of listed company on main board in Shanghai and Shenzhen Stock Exchange of eight industries in the last three years as the research sample,then analyze and investigate the influence and mechanism of the factors which have an impact on the internal control audit fees.This paper supplements the domestic research on the internal control audit fees of the listed companies.In this paper,we study the the influence factors of internal control audit charge based on the data for the first three years after implementation of the internal control system,and analyze the potential problems and solutions of the internal control auditing charge.This article adopts the research method of combining normative research and empirical research.With the use of Simunic audit charge regression model in the empirical research part,the sample data used in the research are selected from 2878 main board listed companies in eight industries from the year 2013 to 2015 of our country,whose internal control audit fee are disclosed separately in the three years and the variable data is complete for the research.This article uses the separately disclosed internal control audit fee as the dependent variable,and chooses the independence of the board,the ownership concentration,and the reputation of accounting firms and the financial statements audit fees of the company as the explanatory variables,while uses the size of the company,the complexity of the audit service,the financial risk of the company,the debt paying ability of the company,the profit ability of the company,the audit risk of the company,the industry the company belongs to,the economic environment and the year as control variables,so as to test their impact on internal control audit fees.Results show that the internal control of listed companies in China audit fees and the ownership concentration of listed companies,the annual financial statements audit fees,company size measured by the total assets of the listed company and the financial risk factors were significantly correlated,and the board independence and the reputation of the accounting firm which provides the internal control auditing services does not significantly affect internal control audit fees.Finally,this paper analyzes the main problems nowadays of China’s internal control audit fee system and the measures can be used to improve the situation from three aspects. |
