Research On Securities Audit Market Reputation And Supervision

The steady development of the capital market affect national economy general situation,but maintenance it stability,have a preface circulate of the key lie in the opening and trasparent of the finance accountancy's information.The purpose of audit system establishment is for the sake of formation to accountancy information quality assurance mechanism.Sine the audit system creation, on the capital market, audit failure and collusion phenomenon have never perish, on the contrary and continuously result in huge great damage.Investor benefits protection is a tallest target for capital market supervison, Accountancy information opaque mean huge of investment risk, society public call high quality of audit service.The stock security audit have the characteristic of "lemon" market, namely it has the characteristic of public goods first, service audit service amount and quality not decrease with consumer of usage descend;Secondly it has trust article of characteristic, audit quality may be hard direct observation, User who having no profession background just choose believe it, and, only after violate the rules, the phenomenon can be observe, then the public just know audit quality haveing a problem;Again audit service buyer is a listed company, but main usage person is society public.Information dissymmetry exist in Auditor and society public thus cause morals risk problem.From once the biggest accounting firm in China "Zhongtianqin" collapse, to Anderson who arrive one of the five greatest accounting firms in the worlds gloomy close the door, audit market which base on trust responsibility on the contrary face rigorous of trust crisis.Audit reputation's existence already have a long time but again drive the public neglect of it.With the development of information economics,reputation study also get, combine audit market actual, overall analysis audit market reputation problem.This paper want to cause the public to concern audit reputation and use it in audit market supervison.In research contents, this paper mainly divided into two part:The first, this paper carry on analysis former research and theories foundation which can give help to understand research present sitution and estimate a research depth.The second,the paper establish a reputation research problem chain, around problem chain, deduce to logically, and doing substantial evidence analysis, study what is audit reputation, whether the audit reputation existence, how the audit reputation formation, how the audit reputation create effect, how to evaluate audit reputation, how make use of audit reputation in supervison.From audit former papper analysis, reputation effect, reputation mechanism are hot topicsis , the researcher study audit reputation and"quality premium price", "IPO mark discount price", "praise and blame effect" etc.Textual theories foundation and research path are inseparable.The audit product have the characteristic of reputation article first. Audit information dissymmetry will cause of audit market to be out of order, then this paper study audit reputation mechanism, according audit market theories, information economics theories constitute origin text research of foundation;Secondly, according to agent principal theory to elaborate two kinds of audit encorage mechanism.Game theory is a basic research tool.Around above-mentioned audit reputation problem chain, this paper:(1)definite audit reputation in a new concept, emphasize investor benefits protection etc.(2)This paper put forward to include audit reputation definition, formation, effect, evaluation, monitor as problem chain, around problem chain, use the theories study of microeconomics , analysis audit reputation formation process.This paper proved:â‘ Principal expectate on audit reputation negative relative with the audit person's cost, expectation rate, discount rate;â‘¡More small cost in high quality audit cost , more weak motive on audit cheating;â‘¢Pay more audit fee ask more high audit reputation;â‘£The condition that maximize audit utility is the limit reputation income equal a limit effort of cost. (3)This paper structure a new audit reputation rating system to carry on a substantial evidence analysis, this will contribute to audit reputation evaluation work. This paper think the reputation imperfection will cause market control's efficiency lowly, then put forward strategy according to the take charge of reputation.For giving audit reputation to supervison to provide evaluation tool, this paper structure an audit reputation rating system combine carrying on a substantial evidence analysis. Different with China CPA association's rating result , the paper give a new objective result, this will contribute to promote audit reputation evaluation work.In fine, this paper account the reputation problem chain,study audit reputation of formation and function mechanism, study audit reputation effect, put forward research on audit reputation supervison strategy.