Study On The Impact Of Esg Information Disclosure On Audit Fees

ESG is a sustainable investment concept that focuses on environmental,social and corporate governance,focuses on evaluating companies from a more comprehensive and diversified perspective,and provides stakeholders with a comprehensive evaluation system that reconciles environmental,social and corporate governance.As a key link to help achieve the carbon peaking and carbon neutrality goals and promote sustainable corporate development and high-quality economic development,ESG plays an important role in the process of corporate risk management and investors’ investment decision-making.Studies have focused on the impact of ESG on corporate value,corporate risk,investment efficiency and financing costs,but few addressed the relationship between ESG and the audit behavior of CPAs.Therefore,it is of great theoretical value and practical significance to explore the impact of ESG information disclosure on audit fees.Based on stakeholder theory and other theories,this paper compares and analyses the relevant literature on ESG information disclosure,the legal environment and audit fees.And then this paper takes A-share listed companies that made ESG information disclosure from 2011 to 2021 as the initial sample to test the impact of ESG information disclosure on audit fees and the moderating effect of legal environment in it.The results of the empirical analysis show that ESG information disclosure has a significant impact on audit fees.The results of the empirical analysis show that there is a significant negative relationship between ESG information disclosure and corporate audit fees,and that the legal environment enhances the negative impact of ESG information disclosure on corporate audit fees.This paper further explores the mechanism of its effect.ESG information disclosure can reduce audit costs by improving corporate reputation and reducing business risks.The findings of this paper have important reference significance for enterprises to implement the ESG investment concept in the production,operation and management processes,improve ESG information disclosure of corporates,enhance their core competitiveness of enterprises,and promote sustainable development and high-quality economic development.