对社会负责的审计公司提供更高的审计质量吗?审计事务所企业社会责任活动调查

IF 2.8 3区 管理学 Q2 BUSINESS, FINANCE Managerial Auditing Journal Pub Date : 2022-10-25 DOI:10.1108/maj-10-2021-3348
Hanwen Chen, Siyi Liu, Xin Liu, Jiani Wang
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引用次数: 1

摘要

目的研究审计事务所的企业社会责任行为。本研究利用2007年至2020年中国所有审计事务所社会责任活动的手工收集数据,构建了两个衡量审计事务所社会责任参与的指标:一个虚拟变量,表明审计师是否在第t年从事社会责任活动,以及审计师在第t年开展社会责任活动的频率。作者使用普通最小二乘回归作为基准方法,以及熵平衡方法和工具变量方法来减轻潜在的内质性问题。基线结果表明,社会责任审计事务所提供的审计服务质量高于同行。特别是,作者发现,由具有社会责任的审计公司审计的客户不太可能收到积极的清洁意见。此外,研究结果表明,与社会责任的其他维度相关的社会责任活动相比,与社区和员工相关的社会责任活动与提高审计质量更相关。进一步的分析表明,资本市场和审计客户对审计公司的社会责任活动反应积极。与同行相比,从事社会责任的审计事务所增加了对风险客户的审计投入。最后,横断面分析表明,非四大和非行业专家之间的正相关关系更为明显,并且由于公司内部的地理分散而减弱。从客户特征来看,当审计事务所的客户面临较高的财务风险或企业社会责任意识较低时,审计事务所社会责任的积极作用更强。综上所述,这些发现与审计事务所参与企业社会责任的伦理观点一致。实践意义本研究促进了投资者对审计公司社会责任参与的理解,并有助于他们评估经审计财务报告的可信度。此外,研究结果也有助于指导审计事务所开展更多的社会责任活动,并有助于指导审计客户选择社会责任审计事务所。原创性/价值据作者所知,本研究通过实证检验审计事务所社会责任活动与审计服务绩效之间的关系,提供了第一个大样本证据。此外,本文还从两个相互竞争的角度探讨了审计事务所的社会责任活动,从而对这一问题有了全面的了解。最后,本文回应了在新兴市场开展更多企业社会责任研究的呼声。
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Do socially responsible audit firms provide higher audit quality? An investigation of corporate social responsibility activity in audit firms
Purpose The paper aims to examine the corporate social responsibility (CSR) activity of audit firms. Design/methodology/approach Using hand-collected data on all Chinese audit firms’ CSR activities from 2007 to 2020, this study constructs two measures to proxy for audit firms’ CSR engagement: a dummy variable to indicate whether an auditor engages in CSR activities in year t and the frequency with which auditors conduct CSR activities in year t. The authors use ordinary least squares regression as a baseline methodology, along with the entropy balancing method and instrumental variable approach to alleviate potential endogeneity concerns. Findings The baseline results show that socially responsible audit firms provide higher quality audit services than their counterparts. In particular, the authors find that clients audited by socially responsible audit firms are less likely to receive an aggressively clean opinion. Moreover, the findings suggest that CSR activities related to community and employees are more relevant in improving audit quality compared with those related to other dimensions of CSR. Further analyses show that capital markets and audit clients react positively to audit-firm CSR activity. Audit firms engaging in CSR increase their audit inputs in response to risky clients, as compared with their counterparts. Finally, cross-sectional analyses show that the positive relationship is more pronounced for non-Big 4 and non-industry experts and is attenuated by within-firm geographic dispersion. In terms of client characteristics, the positive effect of audit-firm CSR is stronger when their clients face the higher financial risk or have lower CSR awareness than others. Taken together, these findings are consistent with the ethical view of audit-firm CSR engagement. Practical implications The study advances investors’ understanding of audit-firm CSR engagement and helps them evaluate the credibility of audited financial reports. Besides, the findings may also help guide the audit firms to conduct more CSR activities and help guide the audit clients to choose CSR audit firms. Originality/value To the best of the authors’ knowledge, this study provides the first large-sample evidence by empirically examining the association between audit-firm CSR activity and audit service performance. Besides, this paper also explores audit-firm CSR activity from two competing perspectives, thereby providing a comprehensive understanding of this issue. Finally, this work responds to the call for more CSR research in emerging markets.
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来源期刊
CiteScore
5.40
自引率
13.80%
发文量
45
期刊介绍: The key areas addressed are: ■Audit and Assurance (financial and non-financial) ■Financial and Managerial Reporting ■Governance, controls, risks and ethics ■Organizational issues including firm cultures, performance and development In addition, the evaluation of changes occurring in the auditing profession, as well as the broader fields of accounting and assurance, are also explored. Debates concerning organizational performance and professional competence are also covered.
期刊最新文献
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