Research on Influence of Internal Control Audit on Audit Fee
|School||Chongqing University of Technology|
|Keywords||internal control audit audit fee listed company|
Audit fee, the important economic connection between customer and certified public accountants, is an important object in auditing research field. In 2001 Securities regulatory commission promulgated disclosure the relevant provisions about the audit fee, so it opens the road to the scholars for studying the audit fee. It has been developing for ten years, during this period, specialists has studied the audit fee for empirical research in different angle. With the promulgation of internal control basic standard and the internal control supporting guidance, the internal control audit has attracted more and more attention. In this paper, we choose the internal control audit as the breakthrough point, to study its influence on audit fee in internal control audit period of voluntary.Firstly, to review and evaluation domestic and foreign research literature on audit fee from enterprise characteristics, accounting firm characteristics, contract features these three aspects. Through combing the research of the domestic and international specialists and the briefly analyzing our country’s internal control, it can lay the foundation for the follow-up theoretical and empirical test.Secondly, using the principal-agent theory and signal transmission theory to analyze the influence that the internal control audit in the audit fee. It shows that the internal control audit will impact on audit fee, whether a listed company continuous internal control audit and accounting firm scale for internal control audit will also impact on audit fee.And then, the influence of internal control audit on audit fee is examined by empirical study method. On the basis of theoretical analysis, three hypotheses are proposed. Then we collect related data among 2008 and 2009, using descriptive statistics, the correlation analysis, multivariate regression to test the influence of internal control audit on audit fee, research found: the listed company’s internal control audit has not significant positive correlation with audit fee; internal control auditor have significant correlation with Internal control audit fee; Continuous internal control audit does not have the remarkable correlation relationship with audit fee.At last, on the basis of the theoretical analysis and empirical study, suggestions are brought about the relevant information disclosure of audit fee and internal control audit from three aspects:listed company、registered accountants、external regulators. These advices can improve the listed company audit fee disclosure system, enhance the quality of accounting firm practitioners and the audit risk consciousness, keep the audit independence and establish strict quality standard and work system, further strengthen disclosure of the relevant internal control auditing information, increase the audit market supervision, so that the internal control audit, which will be launched in all listed company can be more effective implemented.