未來盈餘反應係數與審計任期

Future Earnings Response Coefficient with Audit Tenure

陳志啟(Zhi-Chi Chen)

指導教授 ： 郭南廷

國立中央大學/管理學院/會計學研究所/碩士(2015年)

摘要

本篇研究目的係探討審計任期對於公司未來盈餘是否具有資訊性，以及股票市場對於查核人員輪調制度之觀感為何。本研究藉由衡量審計任期對於當期股票報酬率與未來盈餘間關係之影響以驗證此議題。此外，台灣制度規定查核報告須揭露兩位簽證會計師之姓名，因此使用台灣之上市櫃公司作為樣本，將有助於使此議題由事務所層面延展至合夥人層面。我們的結果顯示審計任期(即主查會計師、協簽會計師與事務所任期)提升未來盈餘反應係數，並且以事務所任期之效果最為顯著。我們的證據意味著對於投資者來說，審計任期為一種正面的訊號，意即審計任期愈長，公司未來盈餘愈被高度地評價。此結果全然不支持查核人員輪調政策。

關鍵字

審計任期 ； 未來盈餘反應係數 ； 查核人員輪調

並列摘要

With a view to exploring if audit tenure is informative about future earnings and the perception of stock market on auditor rotation policy, our study examines these issues by investigating the effect of audit tenure on the relationship between current period stock return rates and future earnings. Moreover, by using a sample of listed and OTC companies in Taiwan, where the audit reports are stipulated to reveal two audit partners’ names, we can extent this issue from CPA-firm level to partners level. Our results show that any type of audit tenure (i.e. lead, coordinating audit partners and CPA-firm tenure) enhances the FERC (Future Earnings Response Coefficient) and the CPA-firm tenure is the most significant one. Our evidence implies that audit tenure is a positive signal for investors. That is, the longer the audit tenure is, the higher the future earnings are valued, which is entirely opposed to the auditor rotation policy

並列關鍵字

Audit Tenure ； Future Earnings Response Coefficient ； Auditor Rotation

參考文獻

(1) 李建然，陳政芳，「審計客戶重要性與盈餘管理：以五大事務所組別為觀察標的」，會計評論，第三十八期，59-80，2004。

(2) 陳慧玲、張瑀珊和顏信輝，「會計師查核報告簽章方式之探討：司法與證券監理人員之看法」，會計審計論叢，第二卷第一期，1-30，2012。

(3) AICPA. "Statement of position regarding mandatory rotation of audit firms of publicly held companies." New York. (1992).

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