金融海嘯對會計師簽發繼續經營有疑慮查核意見之影響： 以台灣電子業為例

Going-Concern Opinions after Global Financial Crisis: The Case of Taiwanese Electronic Industry

曹曉琳(Hsiao-Lin Chao)

指導教授 ： 林嬋娟

國立臺灣大學/管理學院/會計學研究所/碩士(2015年)

https://doi.org/10.6342/NTU.2015.00020

摘要

全球金融海嘯肇因於美國次級房貸危機，其影響從美國、歐洲蔓延至台灣，根據官方數據顯示，民國98年8月，臺灣經濟受到金融海嘯的衝擊，尤其以出口導向為主的產業其情況更為嚴重(例如：電子業、木材業、紡織業等)，當產業營運風險提高時，投資人會更重視會計師對於繼續經營假設的意見，而本研究之目的，即在探討金融海嘯發生後，會計師執行查核工作是否受到影響。
審計工作為增強理論的負增強行為，受到法令環境更迭的影響，考量金融海嘯後台灣對會計師並無新增相關法規，故對會計師行為無顯著效果；同時，聲譽維持會促使會計師增加簽發繼續經營有疑慮之審計意見，綜合上述，本研究之假說ㄧ預期在金融海嘯發生後，會計師會增加簽發繼續經營有疑慮之審計意見；除此之外，金融海嘯對於事務所的經營亦有負面影響，此時，失去重要客戶對事務所的衝擊更大，因此，在收入壓力下，會計師會傾向接受重要客戶對於意見的偏好，故本研究之假說二預期在金融海嘯發生後，會計師對於重要性越高的客戶越不會出具繼續經營有疑慮之審計意見。
考量出口導向與產業集中效果，本研究以電子相關八大產業為樣本，從台灣經濟新報資料庫彙總上市櫃之電子公司合共3,174家，選取金融海嘯發生前後三年(即2005-2011年)之會計師查核意見，並以會計師簽發繼續經營有疑慮之審計意見為變數，作羅吉斯迴歸分析，實證結果發現如下：金融海嘯發生後，會計師簽發繼續經營有疑慮之審計意見顯著減少，未支持假說一的預期，此可能是受到(1)自我實現預言與(2)公司治理的影響；除此之外，客戶重要性的迴歸結果亦未達顯著，未支持假說二的預期，可能的原因為衡量客戶重要性的方式未能充分顯現台灣市場之特色。

關鍵字

繼續經營有疑慮之審計意見 ； 金融海嘯 ； 負增強 ； 聲譽維持 ； 客戶重要性

並列摘要

The Global Financial Crisis (GFC) brings a negative impact to the international economy. The decline of overall demands lets Taiwanese export-oriented industries have difficulties on operating (e.g. Machines and Electricals, Woods, and Textile). Once there are more risks associated with companies’ operation, the investors would pay much attention to the auditors’ opinion on going-concern assumption. This study examines which factor would be influential in the propensity of issuing GCOs during the GFC.
Auditors’ behavior is called ‘negative reinforcement’ in psychology. Considering there is not any explicit rule prescribed by Taiwanese government after the onset of GFC, the negative reinforcement would not be triggered and the auditors’ behaviors would not be influenced. In addition, the reputation protection would let auditors increase the issuance of GCOs. Combining the effect of negative reinforcement and reputation protection, I predict the propensity of issuing GCOs after the onset of GFC increasing. On the other hand, the stress of not to lose important clients would be great after the onset of GFC and auditors would be more willing to compromise independence for important clients. I predict auditors would be less likely to issue a GCO to a comparatively important client in the post-GFC period.
Considering Taiwan is export-oriented and the concentration of industries, I use electronic industries as the sample. Using 3,174 listed electronic companies from Taiwan Economic Journal (TEJ) Database during 2005-2011, I examine whether the GFC influences the propensity of auditors to issue going-concern opinions (GCOs). After controlling for other factors related to GCOs, I find a decrease in the propensity of auditors to issue GCOs during the period 2009-2011 compared with the period 2005-2007. The evidence does not support that reputation protection is influential in auditors’ behavior after the onset of GFC. Possible explanations might be self-fulfilling prophesy and corporate governance. Additional tests consider the impact of client importance and I find insignificant results. It indicates that client importance does not influence the propensity of auditors to issue GCOs during the period 2009-2011 compared with the period 2005-2007. Possible explanation might be the measurement of client importance is not fit for Taiwanese audit market.

並列關鍵字

going-concern opinions ； global financial crisis ； negative reinforcement ； reputation protection ； client importance

參考文獻

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