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本文在分析中国概念股审计质量形成机理的基础上,提出通过构建跨境审计监管合作机制来解决。本文研究发现,由于信息不对称,中国概念股公司管理层为了经济利益,具有美化财务报表的强烈动机。即使是质量差的中国概念股公司,管理层也有动机发布高盈利财务报告,管理层会尽量选择合适的审计师或事务所与自己共谋,利用经济利益诱导或威胁审计师出具有利于中国概念股自身的低质量审计意见。审计师的行为选择和审计质量的高低不仅与中国概念股管理层提供的利益大小非常相关,还与被处罚的力度和检查范围相关。跨境监管部门对违规审计师处罚金额越大,检查的概率越高,审计质量越高。研究也发现,良好的公司治理结构可以提高中国概念股的审计质量,审计质量比较低的公司采用的会计师事务所级别就比较低,使用反向并购中国概念股,审计质量就比较低。只有建立起一个完善的跨境审计监管机制才能够长期解决中国概念股的审计监管和诚信危机问题。在我国需要设立上市公司境外监管合作部,由证监会直接领导,跨境双方在审计实务方面进行业务合作,确定统一跨境审计监管合作标准,加强跨境审计监管合作机构与其他监管部门的协调与合作,优化外部制度环境,推广审计信用文化。
On the basis of analyzing the formation mechanism of audit quality of China’s concept stocks, this paper proposes to solve this problem by establishing a cooperation mechanism of cross-border audit supervision. This study finds that, due to the asymmetric information, the management of China concept stocks has a strong incentive to beautify its financial statements for economic benefits. Even poor quality Chinese concept stock companies have the motivation to release highly profitable financial reports. Management will try to choose the right auditors or firms to conspire with each other and use economic interests to induce or threaten auditors to issue statements favorable to China Unit own low-quality audit opinion. The choice of auditor’s behavior and the quality of auditing are not only closely related to the size of the benefits provided by the management of the Chinese concept stocks, but also related to the degree of punishment and scope of the examination. Cross-border regulatory authorities, the greater the amount of penalties for non-compliance auditors, the higher the probability of inspection, the higher the audit quality. The study also found that a good corporate governance structure can improve the audit quality of Chinese concept stocks. The firms with lower audit quality use a lower level of accounting firms, and the use of reverse mergers and acquisitions of Chinese concept stocks results in lower audit quality. Only if we establish a perfect cross-border audit supervision mechanism can we solve the long-term problem of audit supervision and credit crisis in Chinese concept stocks. In our country, it is necessary to set up the Oversea Supervision and Cooperation Department of Listed Companies, which is led directly by the CSRC and conducted cross-border cooperation in auditing practice, establishing a unified cross-border auditing cooperation standard and strengthening coordination between cross-border auditing supervisory cooperation agencies and other regulators And cooperation, optimize the external institutional environment, promote the audit of credit culture.