報告題目：Reputation Recognition and Audit Outcomes: Evidence from Chinese Auditors
報 告 人：吳東輝
報告地點：騰訊會議（會議ID：137 553 352）
Reputation has long been recognized as an important mechanism to mitigate opportunistic behavior in the audit market. However, whether and how reputation motivates auditors to provide high-quality audits is empirically not clear. We exploit the Chinese audit market, where a group of auditors is titled “senior CPAs.” Representing the highest professional recognition, the designation of senior CPA enhances auditors’ reputation in an observable manner. Based on a difference-in-differences design, we find that, following the senior-CPA designation, auditors improve audit quality in terms of audit reporting and audited financial statements. Such a reputation effect is more pronounced in regions with more developed market institutions and for auditors with longer practice experience. The senior-CPA designation is also followed by several market consequences, including higher audit-fee premiums commanded and larger audit-market shares gained by the senior CPAs, and higher market valuation of earnings audited by the senior CPAs. Overall, our study provides novel evidence on how the reputation mechanism shapes auditor behavior and matters to capital market participants.
吳東輝，香港中文大學商學院教授，香港中文大學公司治理中心主任，中國注冊會計師協會會員，China Journal of Accounting Research (《中國會計學刊》)副主編，Contemporary Accounting Research特約編輯。曾任職于天健會計師事務所及任教于嶺南大學及香港理工大學。他的主要研究興趣是中國的會計及審計制度，研究著作發表于The Accounting Review、Contemporary Accounting Research、Journal of Accounting Research、Journal of Accounting and Economics、Management Science、Review of Accounting Studies等頂尖學術刊物。研究結果不但在學界廣為引用，亦為業界審計準則制定所借鑒，對實務產生影響。
撰稿：曲琦 審核：劉行 單位：會計學院