Does Digital Transformation Shorten Audit Lag?

In recent years,digital technologies such as big data and blockchain have had a series of far-reaching impacts on accounting and auditing,but no scholars have yet examined the effectiveness of enterprise digital transformation from the perspective of audit lag,exploring the impact of enterprise digital transformation on audit lag and its causes.This article combs the relevant research on enterprise digital transformation and audit lag,as well as the theoretical basis of digital "paradox",audit theory,and risk oriented audit theory.Using the data of listed companies in Shanghai and Shenzhen A-shares from 2009 to 2020 as a research sample,it systematically studies the impact of enterprise digital transformation on audit lag through empirical testing,further,The reasons are analyzed from the perspective of digital transformation matching degree and the perspective of enterprise digital transformation maturity.The empirical test results show that:(1)There is a positive correlation between corporate digital transformation and audit lag,indicating that corporate digital transformation cannot shorten audit lag.The above conclusions are still valid after reducing the sample size,adding control variables,instrumental variable methods,and replacing explanatory variables to control possible endogenous problems.(2)The reason analysis found that:(1)The matching degree of digital transformation between accounting firms and customers can have a regulatory effect on audit delays,and when the matching degree of digital transformation between accounting firms and customers can weaken the extended effect of enterprise digital transformation on audit delays.(2)The maturity of the enterprise’s own digital transformation will have a regulatory effect on audit delays.When the enterprise’s digital transformation is in a high maturity period,it will weaken the extended effect of the enterprise’s digital transformation on audit delays.(3)Heterogeneity analysis found that firms that entrust non four major accounting firms are more affected by the extended effect of audit delays;State-owned enterprises are more affected by the extension of audit delays;Enterprises at a low level of development receive a greater impact on the audit delay extension effect.This study proposes the following countermeasures and suggestions: First,China is in the era of digital economy,and the audit industry should firmly grasp the opportunity to carry out digital transformation.Second,enterprises should accelerate the process of digital transformation.Third,enterprises should implement targeted digital transformation strategies based on their actual development.Fourth,local governments need to pay close attention to local development levels to carry out digital emergencies and create a good digital atmosphere.