An Analysis of Audit Fees and Their Determinants in China

다국어 초록 (Multilingual Abstract)

The purpose of this study is to examine the factors affecting audit fees in China, one of the emerging markets. China has an economic model mixed socialism with capitalism Also, Auditors determine audit fees based on government's standards and deal with client. So it is interesting to investigate whether it shows same result with the prior research or not. To examine these factors, we used 581 firms data listed on Shanghai Stock Exchange(SSE)- A shares in 2004.To the result of our study, the size of a firm, the audit complexity and the reputation of accounting firms are significant with audit fees in China. But the audit opinion, the government's stock equity ratio and the within-area homogeneity between the auditor and the auditee, expected as special features in china, were shown mixed results. However audit opinion was significant with audit fees, we didn't find evidence for purchasing audit opinions. The government's stock equity ratio and the within-area homogeneity between the auditor and the auditee were not significant. Consequently, we found the factors influencing audit fees consisted with that of the prior researches although China had a different economic model from the capitalist countries.

국문 초록 (Abstract)

회계감사수수료는 감사인의 독립성과 감사품질에 영향을 줄 수 있으며 자본시장에서의 감독역할을 하는 회계감사의 실패에 영향을 줄 수 있다. 이러한 이유로 선행연구들은 회계감사 수수료에 영향을 미치는 요인들에 어떠한 항목들이 있는지 연구하여왔다. 기존의 연구들은 주로 미국이나 영국과 같은 자유경제를 오랫동안 도입한 국가들을 대상으로 연구하였다. 그러나 최근 중국과 같은 신흥경제시장의 경제발전이 두드러짐에 따라 이러한 국가들에서 특징적으로 나타나날 수 있는 회계감사수수료에 미치는 요인에 대해 파악하는 것은 흥미로운 일이다. 본 연구는 중국의 감사시장에서 감사수수료에 영향을 미치는 요인이 무엇인지 파악하고자 하였다. 연구결과에 의하면 중국의 감사시장에서 감사수수료에 영향을 미치는 요인으로는 자산규모, 자회사수, 그리고 회계법인의 규모로 나타났다. 또한 중국 경제의 특징을 고려하였을 때 감사의견은 감사수수료에 유의적인 영향을 미치는 변수로 파악되어 중국에서 감사의견을 구매하는 경향이 발생할 수 있음을 발견하였다. 그러나 정부의 주식소유비율이나 회계법인과 피감사회사의 지역적 차이는 유의적이지 않은 것을 나타났다.

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