This study uses the data of audit fee disclosure of recent 5 years to realize the association between audit fee disclosure and the quality of financial statements. Also, the variables related to corporate governance are used to promote the relationship of the model. The empirical results indicate that audit fee related information disclosure is not associated with the quality of financial statements in recent 5 years. The aforementioned findings can be attributed to the result of implementing accountant audit fee disclosure policy announced by Securities and Futures Bureau from 2009. In this study, some corporate governance variables such as company size, operating cash flow, etc. are negatively or positively associated to the quality of financial statement.