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首页> 外文期刊>Accounting Review >Small Audit Firm Membership in Associations, Networks, and Alliances: Implications for Audit Quality and Audit Fees
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Small Audit Firm Membership in Associations, Networks, and Alliances: Implications for Audit Quality and Audit Fees

机译：协会，网络和联盟中的小型审计公司会员资格：对审计质量和审计费用的影响

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In this study, we examine the benefits of membership in an accounting firm association, network, or alliance (collectively referred to as "an association''). Associations provide member accounting firms with numerous benefits, including access to the expertise of professionals from other independent member firms, joint conferences and technical trainings, assistance in dealing with staffing and geographic limitations, and the ability to use the association name in marketing materials. We expect these benefits to result in higher-quality audits and higher audit fees (or audit fee premiums). Using hand-collected data on association membership, we find that association member firms conduct higher-quality audits than nonmember firms, where audit quality is proxied for by fewer Public Company Accounting Oversight Board (PCAOB) inspection deficiencies and fewer financial statement misstatements, as well as less extreme absolute discretionary accruals and lower positive discretionary accruals. We also find that audit fees are higher for clients of member firms than for clients of nonmember firms, suggesting that clients are willing to pay an audit fee premium to engage association member audit firms. Finally, we find that member firm audits are of similar quality to a size-matched sample of Big 4 audits, but member firm clients pay lower fee premiums than do Big 4 clients. Our inferences are robust to the use of company size-matched control samples, audit firm size-matched control samples, propensity score matching, two-stage least squares regression, and to analyses that consider changes in association membership. Our findings should be of interest to regulators because they suggest that association membership assists small audit firms in overcoming barriers to auditing larger audit clients. In addition, our findings should be informative to audit committees when making auditor selection decisions, and to investors and accounting researchers interested in the relation between audit firm type and audit quality.
机译：在这项研究中，我们研究了加入会计师事务所协会，网络或联盟（统称为“协会”）的好处，协会为会员会计事务所提供了许多好处，包括获得其他专业人士的专业知识的机会。独立成员所，联席会议和技术培训，协助解决人员配备和地域限制以及在营销材料中使用协会名称的能力。我们希望这些好处将导致更高质量的审计和更高的审计费用（或审计费用）通过手工收集的协会会员数据，我们发现协会会员公司的审计质量要高于非会员公司，因为审计质量的提高是由上市公司会计监督委员会（PCAOB）的检查缺陷较少以及财务报表的虚假陈述较少，以及极低的绝对全权应计收益和较低的正全权应计收益。我们还发现，成员公司客户的审计费用要高于非成员公司客户的审计费，这表明客户愿意为参与协会成员审计公司而支付审计费的额外费用。最后，我们发现成员公司的审计质量与规模匹配的四大公司的审计样本相似，但是成员公司的客户支付的费用溢价比四大客户低。我们的推论对于使用公司规模匹配的控制样本，审计公司规模匹配的控制样本，倾向得分匹配，两阶段最小二乘回归以及考虑协会成员资格变化的分析是可靠的。监管机构应该对我们的发现感兴趣，因为它们表明协会成员资格可以帮助小型审计公司克服对大型审计客户进行审计的障碍。此外，我们的发现应在做出审计师选择决定时为审计委员会提供信息，并为对审计公司类型与审计质量之间的关系感兴趣的投资者和会计研究人员提供信息。

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