| Economic progress and technical upgrade are constantly shaping the enterprise change.As the enterprise technology innovation and the coming of the era of knowledge economy,intangible assets have become an important asset of many enterprises.The future auditing work should attach more importance to the changing of the core asset structure of enterprise.The virtual nature,weak value correspondence and imperfect valuation methods of intangible assets have brought new opportunities and challenges to the audit work of accounting firms.Meanwhile,because of the asymmetry of information,enterprises with large intangible assets in asset structure are in a more unfavorable position in the negotiation of audit pricing.lt will be a new subject for audit pricing research to analyze the content of intangible assets audit and form a reasonable audit pricing mechanism of intangible assets.This paper combines theory with empirical analysis.On the basis of reviewing related literature at home and abroad,this paper further analyzes intangible assets,internal control quality and audit pricing of listed companies in the GEM(growth enterprise market).The results suggest that the intangible assets is an important part for listedhigh-tech companies,theinternal control quality is not satisfied,and audit pricing has certain premium.The analysis suggests that intangible assets raise audit pricing in terms of direct cost and risk premium of audit compared to fixed assets with specific form,using the information asymmetry theory and insurance theory to discuss the influence of intangible assets on audit pricing.At the same time,the quality of the internal control of enterprises not only affects the operating situation of the enterprise,determines the success or failure of the operation of the enterprise,but also affects the degree of the auditor’s difficulty in implementing the audit procedure.And the enterprises with higher internal control quality,the initial confirmation of intangible assets,the subsequent measurement and disposal,etc.will be more improved and reduce the difficulty of auditing work.Besides,based on internal control theory and signal transmission theory,good internal control quality can reduce the risk premium of intangible asset audit.According to the theoretical analysis,we pose three hypotheses,and carry out the empirical test on thehigh-tech enterprises of GEM from 2011 to 2015.The empirical test results show that:(1)There is a significant positive correlation between the proportion of intangible assets and the audit pricing,and the higher the proportion of intangible assets,the higher the cost of auditing.(2)Internal control quality has a slight negative effect on audit pricing,and the result was not significant.This paper considers that this is due to the GEM high-tech enterprise overall quality is not high.And the internal control information disclosure did not have the effect of asymmetric risk reduction,cannot reduce audit risk premium and audit pricing in a certain extent.(3)The regression coefficient’s minus sign of intangible assets and internal quality control indicates that internal control quality reduces information asymmetry situation of high-tech enterprise,which can weaken the positive role of intangible assets for the audit pricing.But the cross terms is not significant,we deem that this is mainly due to the poor internal control of overall GEM high-tech enterprises.(4)In addition,the substitution variable of intangible assets-R&D,its empirical test shows that there is a negative relationship between R&D and audit pricing,which to a certain extent suggests that the disclosure of the research and development costs,probably is a more effect signal than intangible assets.Finally,according to the result of empirical test,this article proposes countermeasures and suggestions from three positions:the government regulators,accounting firms and high-tech enterprises.Then we put forward the inadequacy and research prospects. |
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