政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/34208

政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/34208

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政大典藏 > College of Commerce > Department of Accounting > Theses > Item 140.119/34208

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/34208

Title:	財務報表審計之價值─藉若干審計失敗之衡量
Authors:	黃仁乙
Contributors:	馬秀如黃仁乙
Keywords:	審計失敗財務報表審計之價值代理假說資訊假說保險假說 audit failure the value of financial statement agency hypothesis information hypothesis insurance hypothesis
Date:	2003
Issue Date:	2009-09-18 09:00:32 (UTC+8)
Abstract:	國內博達科技無預警聲請重整，對會計師業及資本市場均造成嚴重之衝擊，有些投資人甚至質疑財務報表審計存在的必要性及其價值。財務報表審計有無價值主宰會計師業是否有存在之必要，其影響不容小覷。本研究乃依據Wallace(1980，1987)提出之代理、資訊及保險等三假說，藉會計師審計失敗之事件，觀察其他簽證客戶股價之反應，以衡量財務報表審計是否有價值。本研究以企業及審計均失敗的公司為實驗組，企業及審計均未失敗的公司作為控制組，期衡量財務報表審計是否有價值。依據研究個案篩選標準，本研究針對87至92年間，各選取五家公司作為實驗及控制組之研究個案。實證結果顯示，在五個研究個案中，中友的簽證會計師事務其他簽證客戶之股價在事件期間，有顯著為負的異常報酬，亦即，中友之簽證會計師提供之財務報表審計確有價值；然國揚、和旺、桂宏及茂矽等四家公司的簽證會計師事務所審計失敗時，因市場出現其他影響股價變動之事件，故無法衡量此四家公司之審計是否有價值。若僅自中友之案例，類推所有事務所之財務報表審計均有價值，恐不足以採信，故本研究推論，會計師事務所提供的財務報表審計服務可能有價值，惟其是否確有價值，則無法自實證結果提出佐證。 PROCOMP INFORMATICS LTD affects accountant industry and the capital market seriously. Some investors even question both the necessity of existence and the value of financial statement audit. Whether financial statement audit has value decides the necessity of accountant industry’s existence and its influence is significant . This research is based on agency, information and insurance hypothesis proposed by Wallace (1980, 1987). In this paper, we choose the event of audit failure and observe the stock price of CPA firm other audit clients to measure the value of financial statement audit. This research designs both the experimental group and the control group to measure the value of financial statement audit. We choose companies which occurred business failure and audit failure as the experimental group. In stead, we choose companies which didn’t occur business failure and audit failure as the control group. Based on the research screening standard, we are aimed at five companies respectively taken for the experimental and the control group. Results show that the stock price of other audit clients of Chungyo’s CPA firm will have significant negative abcdrmal return when CPA firm occurs audit failure. Namely, financial statement audit provided by Chungyo’s CPA firm has value. However, when the other company’s CPA firm occur audit failure, some other event that affect stock price to vibrate happen simultaneously, we can’t measure the value of financial statement audit provided by the four company’s CPA firms. On the whole, if we use the finding to analogize that financial statement audit provided by all CPA firms has value , it maybe not to be persuasive. Consequently, this research infers that the financial statement audit services provided by CPA firms may has value. Whereas, we can’t conclude that financial statement audit has value truly.
Reference:	中文文獻沈中華、李建然，2000，事件研究法，台北:華泰文化事業股份有限公司。劉嘉雯，2003，會計師事務所合併對客戶股價影響之研究─代理假說與保險假說，會計評論，第36期:1-22。吳婉婷，2003，市場對Prince Waterhouse與Coopers & Lybrand會計師事務所合併案反應之研究，國立台灣大學會計學研究所未出版碩士論文。許書偉、陳政芳，2003，安隆案對國內會計師事務所客戶股價影響之研究—「國際品牌」觀點，討論稿，國立臺北大學會計系。林柄滄，2002，如何避免審計失敗。財政部統計處，2003，中華民國台灣地區會計師事務所服務業調查報告。英文文獻 Bernard, V. L., and R. G. Ruland. 1987. The Incremental Information Content of Historical Cost and Current Cost Income Numbers: Time-Series Analysis for 1962-1980. The Accounting Review 62: 707-722. Blackwell, D. W., T. R. Noland, and D. B. Winters. 1998. The Value of Auditor Assurance: Evidence from Loan Pricing. Journal of Accounting Research 36: 57-70. Chaney, P. K., and K. L. Philipich. 2002. Shredded Reputation : The Cost of Audit Failure. Journal of Accounting Research 40: 1221-1245. Doogar, R., T. Sougiannis, and H. Xie. 2003. The Impairment of Auditor Credibility: Evidence from the Enron-Andersen Saga. Working Paper, University of Illinois at Urbana-Champaign. Menon, K., and D. D. Williams. 1994. The Insurance Hypothesis and Market Prices. The Accounting Review 69: 327-342. Peterson, P. P. 1989. Event Study: A Review of Issues and Methodology. Quarter Journal of Business and Economics 28: 36-66. Wallace, W.A. 1980. The Economic Role of the Audit in Free and Regulated Markets. New York: Touche Ross & Co. Aid to Education Program. Wallace, W.A. 1987. The Economic Role of the Audit in Free and Regulated Markets: A Review. Research in Accounting Regulation. 1: 7-34. Zellner, A. 1962, An efficient method ofestimating seemingly unrelated regressions and tests for aggregation bias, Journal of the American Statistical Association 5:348-368.
Description:	碩士國立政治大學會計研究所 91353019 92
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G0091353019
Data Type:	thesis
Appears in Collections:	[Department of Accounting] Theses

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