This study mainly concerns about the response of the interest rate of bank debt to the signal of audit firm changes. The study includes the listed companies from year 2011 to 2016 in Taiwan and classifies the sample of bank loans to two categories, backed by collateral and not backed by collateral. The empirical results show that audit firm changes significantly increase the interest rate of the bank debts that are not backed by collateral because the financial reporting quality decreases and the information risk increases. In contrast, audit firm changes do not have significant effect on the interest rate of the bank debts that are backed by collateral because of the compensation effect of collateral.