Research On The Impact Of Fair Value Measurement On Audit Fee Of Listed Companies

Independent audit is the economic police in the market environment.The services provided by it can guarantee the true and fair information of the financial statements of the enterprise,which is benefical to the stable development of the society.Now,China's audit market competition is fierce,part of the accounting firms exist the phenomenon of disorderly competition and low audit fees,audit pricing has not unified standard,therefore,to study the influence factors of audit fees become the focus of academic circles.Based on the modern risk-oriented audit theory,audit risk has become the primary pricing factor for audit fees,and the higher audit risk,the higher audit fee.Contrarily,the lower audit risk,the lower audit fee.The development of Fair value measurement is not smooth,due to its high provide financial information related to decision,standard setters and regulators pay much station on it,but its low reliability has long been controversial.And the use of fair value measurement methods require specific active market conditions,the fair value measurement in the active market value is the most reliable,in the not active market,the confirmation of the input value will need to rely on the valuation models,different valuation models are likely to cause the bigger difference.There is no specific provision in the fair value measurement standards and enterprise must use specific valuation model,this can make enterprise management choice model of subjectivity is stronger,to a certain extent,means that enterprise management exist using fair value measurement information to smooth the motivation of profit,earnings manipulation.In addition,the fair value measurement of audit in our country is still at an early stage of development,the lack of policy support,the auditor professional competence is weak,has increased the difficulty of the audit of fair value measurement of financial information.The higher the risk of accounting for financial information,the more likely it will be for auditors to charge.Therefore,according to previous research theory and research method,based on the Shanghai and shenzhen A shares in 2011-2016 listed companies' financial data for support,with four basic theory as the foundation,and with the analysis of descriptive statistics,Pearson correlation analysis,multiple regression analysis results and robustness tests,empirically the fair value measurement and the relationship between audit fees,and on this basis to further study the different firm size will affect the relationship between them.The results show that :(1)the risk information of fair value measurement is positively correlated with the audit fee;(2)the four major international institutions will significantly enhance the positive impact of fair value measurement on audit fees.This result means that the complexity and unreliability of the fair value measurement raise the audit risk and put more resources into the audit of accounting affairs.And the four big accounting firms base on reputation theories,it may pay more attention to the huge reparations caused by audit failure,which may pay more time and energy in auditing.Therefore,the audit premium charged is more obvious.Based on existing research conclusion and the insufficiency,this article also puts forward to perfect the fair value measurement standards,improve the charge standard,increase the risk of a auditors recognize the fair value measurement information advice of cultivating the ability of practice,enrich the fair value of the empirical research on risk,promote orderly competition in the audit market.