The Research Of Audit Independence Based On Audit Information Property Rights Arrangement

As a valuable information resource, audit information will produce certaineconomic consequences or utility, and the quality of information is crucial forstakeholder economic making decisions. However, the lack of auditing independencerepeatedly led to audit information distortion, which greatly damaged the economicinterests of stakeholders and auditors professional reputation. Since the90years ofthe last century, the combination of the Western New Institutional Economics,property rights theory and contract theory gradually caused a revolution of economicsin China; as an important branch of Economics, also contributed to Accountinginnovation. Based on the theory of audit contract, this paper explores reasons for lackof audit independence from a property rights perspective and deeply analyses theassociation between audit information property rights and auditing independence,which is beneficial to enrich and expand the auditing theory and practice researchgreatly.The topic of this thesis is to study the property rights problem of auditinformation from the perspective of property economics; and based on the frameworkof audit information property rights arrangement to explore the property root of thelack of auditing independence. In order to analyze the realistic background andtheoretical significance of this paper, This article first discusses the researchbackground and significance, research methods and ideas, and then reviews relatedliterature on the information property right, the audit information property rights andauditing independence. And then, according to property rights theory, principal-agenttheory and contract theory, we define the economic meaning of audit informationproperty rights, property rights attribute and characteristics; further analyzes the auditinformation property rights domain of each right level and association by making useof audit contract. Later, the article analyzes the audit market environment and theaudit information requirements in our country, in the fierce market competitionenvironment and the mandatory environmental audit information requirements, so theaudit information property rights misplaced with auditing independence and theexisting audit information property rights arrangement greatly harmed the auditingindependence. Therefore, in order to protect the ownership i nterests of the auditinformation property rights, we should rearrange the initial definition of audit information property rights by government regulation and moral integrity mechanism.For the protection of audit information property, requiring the audit or to provide highquality audit information which put forward higher requirements to auditingindependence. And finally, based on the protection of framework of the auditinformation property rights, some policies and suggestions are put forwarded tomaintain auditing independence.