財務報表審查方式對KY公司財務報表品質之影響

The Effects of the Financial Reporting Audit Method on the Financial Reporti ng Quality of KY Firms

本文旨在探討KY公司之半年報審查方式由核閱變更為查核對其財務報表品質之影響。本文實證結果顯示，KY公司之半年報審查方式由核閱變更為查核後，其向下盈餘管理增加，顯示該變更使部分：KY公司採行相對保守之盈餘管理政策。其次，本文亦發現董事長內部化以及大股東持股比率愈高之KY公司，其於KY公司半年報審查方式變更後向上盈餘之減少幅度相對較大。此外，本文發現匯出海外資金部位較高之KY公司以及經理人員紅利薪酬較高之KY公司在KY公司半年報審查方式變更後反而有相對較高的向上盈餘管理，顯示這兩類型的KY公司在半年報審查方式變更後反而加劇其美化財務報表之行為。

The purpose of this study is to examine the effect of mandatory interim audit in Q2 on the financial reporting quality for KY firms. The results show that the magnitude of downward earnings management increases after the implementation of the requirement. Moreover, we find that KY firms with greater block holder ownership or whose chairman is held by an ultimate controller are less likely to manage earnings upwards after the new regulation takes effect. In our additional tests, we find that even after the implementation of new regulations, KY firms with substantial capital remittance or higher CEO compensation continue to manage their earnings upwards, suggesting that mandatory interim audit cannot deter their windows dressing of earnings.