| Audit fee is always a front-burner issue on investigation in financial academic and there are varied influence factors from corporate and firm characteristics, risk elements like corporate governance to externalities. Whereas, in the study of impact of external environment mechanism on audit fee, the formal external environment mechanism is more considered such as law and government regulations, whether is there another informal mechanism having an effect upon audit fee? As an irregular element, media’s role of supervision is gradually coming into focus in recent years.This paper, based on the sample of A-share listed companies from2009to2012, makes a research on exploring the impact of media supervision on audit fee and carries on a further investigate on the impact of corporate nature, accounting firm types, audit opinion on the function of media supervision. Research findings:first, negative report from media will increase audit fee. Second, there is no significant variance in different nature of the enterprise upon the effect of media supervision on audit fee. Third, the four major international accounting firms will not strengthen the impact of media supervision on.audit fee. Forth, the prior nonstandard audit opinion will augment audit fee directly by reason of it transmit risk information, but will not influence the impact of media supervision on audit fee itself. Nonstandard audit opinion will not only affect the audit fee directly by aggrandizing audit cost, but also through enhancing the impact of media supervision to operate on audit fee. That is to say, among the companies which provide nonstandard audit opinion, of which, adverse report will obviously affect more. This paper attempt to make a new interpretation on audit fee from the point of media—he factor of informal external environmental, and also investigate the other factors arising different impacts, which will contribute to comprehend the influencing mechanism and media supervision on audit fee. |
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