非審計服務、公費依存度及會計師查核年資與盈餘品質之關係－績效調整後裁決性應計金額之衡量

The Effects of Non-audit Services, Fee Dependence and Auditor Tenure on Earnings Quality-The Measure of Performance-Adjusted Discretionary Accruals.

王純恩(Chun-En Wang)

指導教授 ： 姜家訓 ； 鍾彩焱

元智大學/管理學院/會計學系/碩士(2004年)

摘要

藉由民國91年揭露之公費資料，本研究探討會計師提供非審計服務、對其客戶之公費依存度及會計師查核年資與盈餘品質之關係。本研究以裁決性流動應計數做為盈餘品質之替代性衡量，除了採用產業橫斷面之Modified Jones Model（1995）來估計裁決性流動應計數外，本研究亦參考Kothari et al.(2002)績效配對與迴歸控制兩種績效調整方法來控制績效對裁決性流動應計數衡量誤差之影響。本研究採用多種指標來做為公費依存度之實證衡量，包括非審計公費比率（Frankel et al. 2002）、非審計公費、審計公費與總公費之自然對數（Ashbaugh et al. 2003）、特定客戶非審計公費、審計公費與總公費佔會計師事務所總收入比率（Chung and Kallapur 2003）。此外，本研究利用首次揭露之公費資料研究審計公費之決定模式。
本研究實證結果如下：
一、公費依存度與裁決性流動應計數之關係
（一）非審計公費依存度
當以非審計公費比率衡量非審計公費依存度時，皆會增加三種裁決性流動應計數之絕對值、正負數盈餘操縱之幅度，若以非審計公費之自然對數或非審計公費佔會計師事務所總收入比率衡量非審計公費依存度時，當非審計公費依存度愈高，受查公司之裁決性流動應計數與迴歸控制裁決性流動應計數之絕對值以及正裁決性流動應計數愈高，負績效配對裁決性流動應計數與負迴歸控制裁決性流動應計數之負向操縱幅度愈大。綜合這些結果顯示，當會計師提供愈多非審計服務，愈容許管理階層更大的盈餘管理空間。
（二）審計公費依存度
當以審計公費之自然對數或審計公費佔會計師事務所總收入比率衡量審計公費依存度時，對三種裁決性流動應計數之絕對值、正負數之影響皆不顯著。
（三）總公費依存度
當以總公費之自然對數或總公費佔會計師事務所總收入比率衡量總公費依存度時，總公費依存度愈高，負績效配對及負迴歸控制裁決性流動應計數之負向操縱幅度愈大，其餘盈餘品質之替代性衡量皆未顯著。
此外，本研究亦採用聯立方程式估計會計師之審計公費、非審計公費與盈餘品質之關係。結果顯示，審計公費之自然對數與非審計公費之自然對數對裁決性流動應計數之絕對值分別具有顯著負向與正向影響，非審計公費依存度之估計結果與前述個別估計結果具一致性。
二、查核年資與盈餘品質之關係
會計師事務所查核年資皆會減少三種裁決性流動應計數之絕對值以及正負向之盈餘操縱幅度，而會計師查核年資對裁決性流動應計數之影響皆未顯著。
此外，審計公費決定模式顯示，是否由五大會計師事務所查核、公司規模、槓桿比率皆對審計公費具正向顯著影響，而資產報酬率對審計公費具負向顯著影響。

關鍵字

非審計服務 ； 公費依存度 ； 會計師查核年資 ； 盈餘品質 ； 裁決性應計金額

並列摘要

This thesis examines whether non-audit services, fee dependence and auditor tenure are associated with earnings quality by using publicly disclosed fee data of listed and OTC firms in Taiwan mandatorily required by the regulation effective in 2002. This study uses the absolute value, income-increasing and income-decreasing discretionary current accruals estimated by industry-specific cross-sectional Modified Jones model (1995) and two measures of performance-adjusted discretionary current accruals developed by Kothari et al.(2002) as proxies for earnings quality. Further, this study uses multiple empirical measures of fee dependence, including non-audit fee ratio(Frankel et al. 2002), the natural log of non-audit fees, audit fees and total fees(Ashbaugh et al. 2003) and measures of client importance which include non-audit fees, audit fees and total fees divided by the auditor firm’s total revenue in 2002(Chung and Kallapur 2003). Additionally, I also explore the determinants of audit fee in Taiwan’s audit market.
The empirical results show that non-audit fee dependence is positively associated with the magnitude of absolute discretionary current accruals and the magnitude of both income-increasing and income-decreasing discretionary current accruals. In contrast, There are no significant association between audit fees and any of these earnings quality proxies. Total fee dependence are only significantly negatively associated with two negative performance-adjusted discretionary current accruals.
Besides, this study finds that auditor firm’s tenure is generally negatively associated with the magnitude of earning management. Specifically, as the tenure of auditor firm lengthens, auditor firm appears to place more constraints on the absolute value and both of the income-increasing and income-decreasing discretionary current accruals, but there is no association between auditor tenure and any of the earnings quality proxies.
Since audit fees, non-audit fees and discretionary current accruals may be jointly determined, this study models these three variables in a system of simultaneous equations. The result shows that non-audit fees are positively associated with the absolute value of two performance-adjusted discretionary current accruals and audit fees are negatively associated with the absolute values of all the three measures of discretionary current accruals.
Finally, it finds that the determinants of audit fees in Taiwan’s audit market include client size, auditor firm’s brand name(Big 5 or not), leverage and ROA.

並列關鍵字

Non-audit Services ； Fee Dependence ； Auditor Tenure ； Earnings Quality ； Discretionary Accruals

參考文獻

鍾惠珍，2004年會計、審計趨勢展望，會計研究月刊，第218期，28－39頁。

吳淑敏，取消審計公費下限之研究，元智大學管理研究所未出版碩士論文，民國九十年。

Antle, R., E. A.Gordon., G. Narayanamoorthy., and L.Zhou. 2002. The joint determination of audit fees, non-audit fees, and abnormal accruals. Working paper, Yale university.

Ashbaugh, H., R. LaFond, and B. Mayhew. 2003.Do nonaudit services compromise auditor independence? further evidence. The Accounting Review78(July):611－639.

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