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报告题目：Reputation Recognition and Audit Outcomes: Evidence from Chinese Auditors

报 告 人：吴东辉

报告时间： 2020年07月14日（周二）09:30-11:30

报告地点：腾讯会议（会议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.


吴东辉，香港中文大学商学院教授，香港中文大学公司治理中心主任，中国注册会计师协会会员，China Journal of Accounting Research (《中国会计学刊》)副主编，Contemporary Accounting Research特约编辑。曾任职于天健会计师事务所及任教于岭南大学及香港理工大学。他的主要研究兴趣是中国的会计及审计制度，研究著作发表于The Accounting Review、Contemporary Accounting Research、Journal of Accounting Research、Journal of Accounting and Economics、Management Science、Review of Accounting Studies等顶尖学术刊物。研究结果不但在学界广为引用，亦为业界审计准则制定所借鉴，对实务产生影响。

撰稿：曲琦 审核：刘行 单位：会计学院

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