會計師事務所規模、品牌與競爭程度對審計公費之影響：中國之實證

Auditor Size, Brand Name Reputation, Market Competition and Audit Fees: Evidence from China

中國資本市場無疑是近年來成長最快速的市場，會計師在其中扮演的角色也逐漸引起各方重視。在西方國家，Big4同時也是規模最大、歷史最悠久，最具品牌聲譽的會計師事務所，在許多資本市場中，具有壟斷簽證業務的地位。但在中國，審計市場發展時間短暫，會計師事務所數量眾多，規模較小，Big4在上市公司審計業務的市場佔有率並不高，部分省（市）中卻有審計業務高度集中於某一本土會計師事務所的情形，這些中國審計市場的特色，提供一個完整檢視審計訂價理論的機會。本文利用2002至2007年中國A股上市公司所揭露之6,657筆審計公費資訊，分析會計師事務所規模、品牌、競爭程度對於審計公費的影響。實證結果印證過去文獻對於會計師事務所特性與審計公費關係的推論，無論是事務所之規模、品牌或市場佔有率對於審計公費都存在顯著正向影響。本文亦發現，在中國市場中，除了Big4結盟所外，規模較小的事務所也可以藉由與其他國際知名會計師事務所結盟，取得公費溢酬；而不同品牌對審計公費的影響存在差異，與Big4結盟的會計師事務所，比其他國際會計師事務所之成員所可以收取更高的審計公費。最後，本文分析會計師事務所對於中國國有上市公司審計業務之訂價策略，實證結果顯示，事務所對國有企業收取較低之審計公費，且Big4相較於其他會計師事務所對國有企業之審計收費，有顯著降低的情形。

This study examines the determinants of audit fees in China and focuses on whether audit pricing is affected by auditor size, auditor brand name reputation, and market competition individually. The special characteristics of audit market in China, including that Big 4 auditors are not the largest auditors, neither Big 4 auditors nor other audit firms have taken a leading position in public audit market, provide an opportunity to conduct a comprehensive analysis of the fees determination. Based on the data for firms listed in Shanghai and Shenzhen stock exchanges from 2002 to 2007, we find that larger auditors (measured by assets audited by audit firm and total revenues of the audit firm) tend to charge higher audit fees. In addition, the results indicate that brand name fees premium exists for clients audited by both Big 4 and auditors affiliated with other international accounting firms. We also find that the regional leading auditor can earn fees premium. At last, the analyses show that auditors charge lower audit fees to state-owned clients, and Big 4 relatively offer more discount in order to earn more business potential in the future.