Research On The Impact Of Corporate Social Responsibility Information Disclosure On Audit Fees

In recent years,frequent occurrences of food safety and environmental pollution have caused the public to increase their focus on corporate social responsibility and information disclosure.However,China is still in the initial stage of the development of corporate social responsibility.The integrity of social responsibility report disclosure is not high,the content is subjective and random,lacks quantitative information,and the overall disclosure quality is poor.This paper intends to explore the economic consequences of corporate social responsibility information disclosure from the perspective of CPA audit fees.This article starts from two logical main lines.The first is the motivation behind social responsibility information disclosure.Based on agency theory,management may disclose social responsibility reports of misrepresentation or misleading information to the outside world based on opportunistic motives.This disclosure will deepen the information asymmetry between enterprises and external stakeholders,and increase the information environment of enterprises.transparency.Therefore,the CPA will carefully consider the authenticity and reliability of the information disclosed by the company.In order to obtain reasonable assurance of financial information and reduce the risk of litigation,the CPA will increase the workload of risk assessment and input,thereby affecting the audit fees.The second is the implicit commitment caused by the disclosure of social responsibility information,that is,when the company discloses social responsibility,it implies a certain commitment to the society(including shareholders,creditors,employees,communities,the environment,etc.).The willingness to cash is not high,and more is a symbolic response to pressure from stakeholder pressure or regulatory pressure.Therefore,the implicit commitment brings a higher risk of expected default,and the CPA will increase the audit risk premium,resulting in an increase in audit fees.Based on the above two main lines of logic,this paper selects two companies,Beingmate and Sanquan Foods as a case-by-case comparison analysis,expounds the possible path of corporate social responsibility information disclosure to audit fees,and initially verifies the positive impact of corporate social responsibility information disclosure on audit fees.To influence.Further,the A-share listed companies in Shanghai and Shenzhen stock exchanges from 2009 to 2016 were selected as research objects,and the impact of corporate social responsibility information disclosure on audit fees was empirically tested.The study found that under other conditions,corporate social responsibility information disclosure has a significant positive impact on audit fees.The higher the social responsibility information disclosure score,the higher the audit fees of the firm.This shows that CPAs consider publicly disclosed social responsibility information in the risk assessment process and can identify risk increments from social responsibility reports.In-depth research has found that the positive correlation between the disclosure of social responsibility information of non-state-owned enterprises and audit fees is more significant than that of state-owned enterprises.Finally,based on empirical and case studies,draw conclusions and propose policy recommendations.