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首页> 外文期刊>Journal of accounting, auditing & finance >Parent-Subsidiary Investment Layers and Audit Fees
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Parent-Subsidiary Investment Layers and Audit Fees

机译：母子公司投资层次和审计费用

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摘要

This study investigates whether the number of investment layers within a parent-subsidiary consolidated group is associated with a firm’s audit fees. Using a unique sample of publicly traded Taiwan companies, which are required to disclose information on all of their affiliates, we measure the number of vertical layers in the parent-subsidiary relationship, from the parent company to the lowest-tiered subsidiary. Our results show a positive association between audit fees and the number of investment layers. In addition, we find that the positive association between audit fees and the number of layers becomes stronger for firms which have more investees located in tax haven countries. Our results also show that the positive association between audit fees and the number of investment layers is more pronounced as companies’ engagement in related-party transactions increases. Overall, the results support the argument that auditors attach higher audit risks to firms with more investment layers and therefore charge higher audit fees.
机译：这项研究调查了母子公司合并集团中的投资层数是否与公司的审计费用有关。我们使用台湾上市公司的独特样本来披露其所有关联公司的信息，以此来衡量从母公司到最低层级子公司的母子公司关系中的垂直层数。我们的结果表明审计费用与投资层数之间存在正相关关系。此外，我们发现，对于在避税天堂国家拥有更多被投资方的公司而言，审计费用与层数之间的正相关性变得更强。我们的结果还表明，随着公司对关联方交易的参与度增加，审计费用与投资层数之间的正相关关系更加明显。总体而言，结果支持这样的论点，即审计师对具有更多投资层级的公司承担更高的审计风险，因此收取更高的审计费用。

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