Research On The Relationship Between Performance Forecast And Audit Fee Under Mandatory And Voluntary Disclosure Policy

In order to solve the problem of information disclosure lag,internal and external information asymmetry,and promote the healthy development of China's capital market,the performance forecast system came into being.Performance forecasts are forward-looking and predictive,and can effectively compensate for the lack of historical information and improve the usefulness of financial information.Due to the late start of China's capital market,in order to adapt to China's national conditions and the development of the capital market,the semi-mandatory performance forecast disclosure system is currently implemented in China.It has been found that under China's unique performance forecast disclosure system,the disclosure method,disclosure time and disclosure quality of the performance forecast have information content.However,auditors who play an important role in the capital market will use this important forward-looking forecasting information to conduct risk assessment and determine audit pricing.So far,few scholars have conducted research.Based on this,this paper combines the current institutional background of China,and studies the relationship between it and audit fees from the accuracy of performance forecast.Firstly,the research direction is determined by combing relevant literatures.On this basis,the research hypothesis is put forward based on the theoretical basis of principal-agent theory,signal transmission theory and information asymmetry theory.Secondly,the enterprises in Shanghai and Shenzhen stock exchanges in 2011-2017 were selected as the research samples by using the qualitative results of the annual performance forecast,and the sample data was processed and analyzed by EXCLE2016 and SPSS25.0.The hypothesis is validated by descriptive statistics,correlation test,linear regression analysis and other empirical research methods,and the results pass the robustness test.Finally,on the basis of the research conclusions,the paper puts forward some suggestions on the problems existing in China's performance forecasting system.At the same time,it puts forward the research shortcomings of this paper and introduces the direction that can be further studied in the future.Through the combination of empirical research and normative research,this paper draws the following conclusions: The greater the deviation of the pre-announcement ofthe listed company's performance,the higher the current audit fee;compared with the mandatory performance forecast disclosure policy,the voluntary performance forecast disclosure policy The performance forecast deviations make auditors more inclined to increase audit fees.Further research on the direction of performance forecast deviations leads to the following conclusions: First,deviations in performance directions in different directions will affect the auditor's risk assessment results and thus affect audit fees,and voluntary disclosure when management makes an optimistic estimate,that is,overestimate the surplus.The policy will promote a positive correlation between performance forecast deviation and audit fees.When the management underestimates the earnings,that is,the disclosed performance forecast is biased towards pessimism,the positive correlation between the performance forecast deviation and the audit fees is not affected by the disclosure policy,that is,the voluntary disclosure policy does not promote the relationship between the two.