The Impact Of Media Governance On Audit Quality: Based On Chinese Private Listed Firms On A-share Main Board

Media reports can reveal some problems existing in enterprises,making information between users of external information and companies more symmetrical.As one of the external information users of the enterprise,CPA can use the media reports when the audit report is issued by the listed company,so the media report will have an impact on the audit quality.At present,the relationship between audit quality and media governance is: only considering the impact of media attention and media attitude on audit quality,there is a lack of research on the quality of media coverage.Therefore,this paper will study the influence of media governance on the quality of audit by using the media attention,media attitude and the sources of media coverage.In this paper,the A private listed companies in China in the past 2014-2016 years were selected as the research samples.Deleting the financial and insurance industry,"ST" and data missing.A total of 297 corporate research samples were obtained.Considering the impact of the nature of the enterprise on the media coverage,this paper will study the sample restrictions on A share private listed companies.It has no state composition,and excludes the negative factors that the media will be interfered in by the government when they are reporting,so they cannot report the company's information completely.The media coverage of private listed companies is more complete.Negative reports are low filtration.Because of the need to deal with the relationship with the government,private listed companies will pay more attention to media coverage.Therefore,the relationship between audit quality and media governance of A private listed companies will be more significant.The object of this study is audit quality and media governance,and from the three dimensions of media attention,media attitude and media coverage.The relationship between them is obtained through empirical analysis:(1)audit quality is positively correlated with media attention.The higher the number of media reports,the higher the audit quality.(2)the quality of corporate audit with policy oriented media attention is better than that of non-policy oriented reporting companies.(3)negative policy oriented media coverage has no significant effect on media attention and audit quality.In view of the above conclusions,three suggestions are put forward:(1)the policy oriented media should improve public credibility and the content of the report should be objective and fair;(2)other enterprises can refer to private listing,optimize the ownership structure,and achieve the role of media governance to improve the audit quality.(3)when CPA performs audit work,it can make use of media coverage to improve audit quality.