Research On The Impact Of Abnormal Audit Fees On The Quality Of Accounting Information

In order to ensure the authenticity and fairness of accounting information,China securities regulatory commission stipulates that the financial reports of listed companies shall be audited by audit firms with securities and futures related business qualifications,and corresponding audit fees shall be paid.Then,the listed companies pay too high or too low audit costs of the consequences,that is,abnormal audit costs on the quality of accounting information,audit quality and what kind of impact,has become the focus of attention from all sectors of society.This paper first examines the impact of abnormal audit fees on the quality of accounting information from the perspective of audit demand.On the basis of reviewing the research results at home and abroad,using information asymmetry theory and customer perceived value theory to analyze the impact of abnormal audit cost on accounting information quality;The hypothesis was proposed and A multiple linear regression model was constructed.The data of a-share listed companies in Shanghai and shenzhen from 2013 to 2017 were used for empirical test;The results show that:(1)paying too high audit fees will damage the quality of accounting information,it indicates that the listed company does not obtain higher accounting information quality after paying too much audit fees,but makes the accounting information quality suffer;(2)paying too low audit fees has no significant impact on the quality of accounting information,it indicates that after the listed company pays too low audit fees,the certified public auditors,due to their professional ethics,professional accomplishment and supervision by the securities regulatory commission and the institute of certified public auditors,can still keep the professional bottom line,abide by the professional ethics and practice cautiously in accordance with the auditing standards,dare not and will not damage the quality of accounting information.In order to reveal the reason of this empirical result,namely whether it is related to the CPA himself and his work,this paper conducts further research,that is,studies whether the audit subject factors(audit firm size,auditor individual reputation and CPA firms' affiliation with senior management)have an impact on the relationship between the two and what kind of impact.Deep pocket theory,reputation theory and social capital theory are used to analyze the impact of audit firm size,auditor individual reputation and CPA firms' affiliation with senior management heterogeneity on the relationship between the two,add the adjustment model of audit firm size,auditor individual reputation and CPA firms' affiliation with senior management variables for regression,results show:in the case of a large audit firm?CPA firms' affiliation with senior management,the damage to the quality of accounting information will be small if the audit fee is too high,it indicates that auditors are more likely to audit and practice prudently in accordance with the law,and strictly check the financial statements prepared for senior executives;Under the circumstance of auditor's high reputation,high audit cost will do great harm to the quality of accounting information,it indicates that the auditors with high reputation may have overconfidence and their moral accomplishment may not match their professional ability,which may lead to the provision of low-quality audit services and finally damage the quality of accounting information.In view of this,This paper suggests that stakeholders and regulatory authorities should pay attention to listed companies that pay higher audit fees.Continue to push accounting firms to become bigger and stronger,and cultivate the expertise of CPA industry;Strengthen the improvement of CPA ethics,we should strengthen the moral education of certified public auditors and make them pay attention to the improvement of their own moral level.The innovation of this research lies in the comprehensive application of information asymmetry and customer perceived value theory to analyze the impact of abnormal audit fees on the quality of accounting information,and the impact of audit firm size,auditor individual reputation and CPA firms' affiliation with senior management heterogeneity on the relationship between abnormal audit fees and the quality of accounting information.