在2003年,台灣證券交易所及櫃檯買賣中心自2003年起採用會計師輪調制度。上市上櫃公司的財務報表若由同一會計師連續查核逹五年以上時,將要接受財務報表實質審查。由於會計師公會反應小規模事務所無法立即因應此規定,因此台灣證交所及櫃檯買賣中心將2003年設為過渡時期,並自2004年開始生效。 本研究係探究會計師輪調制度與審計品質之關聯性,所採用的研究設計為經理人更迭率與會計衡量之績效間關連性的敏感度,藉此檢驗輪調制度對於審計品質之影響。實證結果顯示,遵行會計師輪調制度後,經理人更迭率與會計衡量之績效間相關性之敏感度並未有顯著的變化。換言之,研究結果顯示,就董事會使用財務報表以考核經理人績效之觀點而言,會計師輪調制度未能影響審計品質。
In 2003, Taiwan Stock Exchange and GreTai Securities Market implemented the auditor rotation rule. The provision states that listed firms’ financial statements are subject to the stock exchanges “substantive review procedure” if auditors have performed audit services for five consecutive years in 2004, when the rule became effective. This study investigates the association between audit quality and the auditor rotation rule. I use a research design to test the changes in the sensitivity of the association between CEO turnover likelihood and accounting-based performance. The empirical result shows that the sensitivity of association between CEO turnover likelihood and accounting-based performance does not statistically change after the auditor rotation rule was implemented. In summary, I find no effect of auditor rotation on the use of accounting reports for the boards of directors to evaluate the performance of CEOs.