非審計性服務對財務報表價值攸關性之影響---獨立性假說vs.產業知識外溢假說之檢測

The Effects of Non-audit Services on the Value-Relevance of Financial Statement--- Auditor Independence vs. Knowledge Spillover

王瑀甯(Yu-Ning Wang)

指導教授 ： 武季蔚 ； 陳慶隆

朝陽科技大學/管理學院/會計所/碩士(2009年)

摘要

非審計性服務對盈餘品質之影響至今尚未形成一致性結論，就會計師獨立性角度而言，部分文獻主張會計師提供非審計性服務將增加會計師對審計客戶的經濟依存度，損及獨立性而對會計資訊的品質有負面的影響(獨立性假說)；就審計效率的角度而言，會計師提供非審計性服務將有助於對審計客戶的瞭解，提高審計效率與降低審計風險，產生知識外溢效果增進會計資訊的品質(產業知識外溢假說)。本研究擬以會計資訊價值攸關性的角度，透過Ohlson (1995)模式檢測會計師對其簽證之審計客戶提供非審計性服務時，對會計資訊的價值攸關性之影響。其次，文獻顯示產業專精之會計師，因其產業專業知識較充分，審計品質較非產業專精之會計師高，推論由產業專精之會計師提供非審計性服務，其知識外溢效果相較於非產業專精之會計師而言較大，審計及盈餘品質亦較佳，因此財務報表之價值攸關性也會提升。故本研究擬以審計產業的專精程度作為中介變數，將會計師事務所區分為產業專家及非產業專家，並預期因產業專家具有知識外溢效果，在提供非審計性服務時會使盈餘資訊價值攸關性提升，非產業專家則因知識外溢效果較小，在提供非審計性服務時其獨立性會受損，導致盈餘品質下降，預期盈餘資訊之價值攸關性會下降。就權益帳面價值變數而言，因文獻顯示盈餘變數與權益帳面價值變數的相對價值攸關性呈現凸性函數關係，預期權益帳面價值的相對價值攸關性將呈現反方向變動。
實證結果顯示：結合非審計性服務與會計師的產業專精變數，就盈餘資訊的價值攸關性觀察，歸類為有高非審計性公費之會計師對盈餘資訊的價值攸關性有負面的影響，而產業專家對盈餘價值攸關性之負面影響小於非產業專家對盈餘價值攸關性之負面影響。就權益帳面價值而言，如預期地，發現有高非審計性公費之會計師其權益帳面價值的價值攸關性呈上升現象，而產業專家相對於非產業專家，其權益帳面價值之價值攸關性增加幅度較小。本研究進行若干敏感性測試，證實本研究的實證結果有穩固性。

關鍵字

非審計性服務 ； 產業專精 ； 獨立性 ； 價值攸關性

並列摘要

So far the argument about the effects of non-audit services on the value-relevance has not reached a consistent conclusion. From the view of auditor’s independence perspective, prior studies argue that by providing non-audit services will raise auditor’s economic bonds on the clients. The damage of the independence will therefore have negative influences on the quality of accounting information. (Independence Hypothesis) From the view of audit efficiency enhancement perspective, providing non-audit services will contribute to the understanding of the audit clients, increase audit efficiency and decrease auditing risks, and produce knowledge spillover to promote the quality of accounting information. (Knowledge Spillover Hypothesis) This study firstly examines the influences of the value-relevance of accounting information when the auditor provides non-audit services for the attestation client through Ohlson model (1995). Moreover, it is found that the industrial expertise auditor has better auditing quality than the non-expertise one. It is expected that the knowledge spillover of non-audit services provided by the industrial expertise will dominate the independence impairment, and therefore have more positive influences on earnings component than that by non-expertise. Thus, the auditing and earning quality will also be better, and thus promote the value-relevance of financial statements.
This study divides auditor firms into exclusively two sub-samples: the industrial expertise group and non-expertise group. It is expected that the value-relevance of earning information will be raised when the industrial expertise provides non-audit services. On the contrary, the non industrial expertise will damage the independence when providing non-audit services due to the smaller effect on knowledge spillover, which leads to the decrease of the quality of earning. Since prior studies suggest that the relative value-relevance of earning variables and book value variables appears a convex function relationship, the relative value-relevance of the book value is expected to change in opposite direction for the industrial expertise group and non-expertise group, respectively.
The empirical result indicates that from the observation of the value-relevance of earning information on the interactive variable of dummy variable of non-audit fees ratio and variable of the industrial expertise, the auditor firms with high non-auditor fees will have negative influences on the value-relevance of earning information. Nonetheless, the negative influences on the value-relevance of earning information of the industrial expertise are smaller than of the non-industrial expertise. As expected, the study finds that the value-relevance of book value of equity of the auditor with high non-auditor fees decreases. Compared to the non-industrial expertise, the increasing level of the value-relevance of book value of the industrial expertise is smaller. The present study demonstrates some diagnostic checks and evidences the empirical results are robust to the various specifications.

並列關鍵字

value-relevance ； independence ； industrial expertise ； non-audit service

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