Along with the change in times and the globalized economic, the UK has started to use the extended auditor report since 2012 to promote the transparency and the usefulness of financial statement. Taiwan has also revise audit standards since 2015. All OTC-listed companies and TPEx-listed companies have to comply with the new audit standards since 2016. The research covers samples of the OTC-listed companies and TPEx-listed companies in Taiwan from the year of 2016 to year 2017. To explore whether the auditor industry specializaion will affect the disclosure of key audit matters. The empirical results show that: the higher level of auditor industry specialization, the more key audit matters will be disclosed.