Studies On The External Guarantee's Effect On Audit Fees And Audit Opinion Types

The external guarantee of listed companies has become an indispensable part of the capital market,and has played an important role in resolving the asymmetry of information between the two parties.However,there must be a risk to external guarantees,when the security object is unable to repay the debt,the corresponding responsibility will be passed on to the listed company to provide security,which listed companies and the normal operation of the stability of the capital market have a negative impact.Based on the theory of information asymmetry and the theory of principal-agent,this paper discusses the composition and influencing factors of audit fees,and analyzes the impact of external guarantee on audit fees and audit opinions.It is believed that external guarantee The impact on audit fees is multiple,which directly and indirectly affects the auditor's audit costs for the audited entity and also affects the auditor's risk premium through the increase in risk.And when the external security of listed companies with high risk characteristics,the CPA may have been unable to increase the audit process or taking risk premium to "digest" the impact of high-risk security.the CPA will tend to choose by issuing non-standard audit Advice to circumvent the risks that may be recouped by the information user and the risk of being punished by the regulatory authority in this situation.On the other hand,this paper takes 13300 observations of listed companies from 2007 to 2014,and validates the correlation between external guarantee and audit fees and audit opinions.The results show that the external guarantee of listed companies has an impact on the audit fees,and the listed companies with external guarantees have higher audit fees than the listed companies that do not have external guarantees.The scale of the external guarantees of listed companies has an impact on the audit fees,The higher the scale of external guarantee,the higher the audit fee charged by the listed company.The impact of the external guarantee on the audit opinion is not significant,but the existence of the high risk guarantee will affect the audit opinion of the listed company.The impact of the external guarantee on the audit fees is related to the nature of its property rights.The impact of the external guarantee of the state-owned listed companies on the audit fees is higher than that of the private sector.The impact of the external guarantee on the audit fees is higher than that of the private listed companies.The impact of listed companies on the audit costs of the existence of regional differences,the eastern coastal listed companies than the other listed companies outside the guarantee of external security matters,the greater impact on audit fees.