| The audit report issued by the CPA can transfer information between investors,affecting the circulation of funds and the acquisition of financial information of listed companies by stakeholders.In the non-standard audit opinion,the rate of failure to express opinions increased from 0.20%in 2013 to 0.50%in 2017.Therefore,it is impossible to express that the opinion audit report has gradually become a type of audit opinion that people are increasingly unable to ignore.CPAs have a certain degree of preference for the type of opinion that cannot express an opinion audit report,but this type of opinion has been criticized and abandoned in the mainstream developed countries.Some Western scholars even think that it is,to a certain extent,a useless opinion that CPAs acknowledge that they have not gained anything after completing their work.Therefore,it is impossible to express whether the existence of the opinion audit report is reasonable,whether the business status of the listed company it represents is normal,and the quality of the audits it carries are the focus of attention from all walks of life.Based on the principal-agent theory,game theory,insurance theory and modern risk-oriented theory,this paper summarizes the academic achievements of scholars at home and abroad about the inability to express opinions and audit reports,and the research status of Chinese scholars on this issue.Based on the listed companies that were not able to express an opinion audit report in 2008-2017,the auditing opinions issued by the CPAs were collected and the reasons for the failure of the six listed companies to issue an opinion audit report were collected.:Inconsistent inventory,unrecognizable receivables,uncertain amounts of events,unclear transactions with related parties,long-term equity investment accounting errors,and internal control d.eficiencies.On this basis,combined with the research and theory of scholars,as well as the results of the questionnaire,the following seven factors were summarized:total return on assets,asset-liability ratio,total asset turnover,and the largest shareholder.Whether the proportion of shares,whether the accounting firm is the top ten firm,whether the accounting firm changes,and the industry of the listed company.This paper takes the relevant data of 97 listed companies that have not been able to express an opinion audit report between 2008 and 2017,and the listed data of 100 listed companies that have issued standard unqualified audit reports every year for a decade(a total of 1000).Through descriptive statistical analysis,independent sample T test analysis,correlation test,and binomial logistic regression analysis,the empirical analysis is carried out,and the relevant factors that the listed company is not able to express the opinion audit report are obtained.The research results show that the profitability,solvency,and the shareholding ratio of the largest shareholder of the listed company are negatively correlated with the issuance of the audit report that cannot be expressed;the change of the accounting firm is positively related to the issuance of the audit report that cannot be expressed;The remaining factors do not have a significant correlation.The article takes the relevant factors of the audit report that cannot be expressed in the gray area as the research goal,and combines the case analysis and the empirical analysis to integrate the relevant factors.This research is first of all beneficial to improve China's auditing system and help CPAs to issue non-standard audit opinions more accurately.Secondly,it has strengthened the supervision of the auditing business of China's regulatory authorities,and can play an early warning role before the listed company is issued a negative opinion.Finally,the findings help to help investors make the right investment decisions.As for how to improve the audit quality of CPAs,it also has practical significance,which can promote the overall coordinated development of accounting firms and the industrial layout of the audit market. |
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