Compared to the"majority equity"standard,defining the consolidation scope of consolidated financial statements based on the"sub-stantive control"standard has greater flexibility and is more influenced by management intentions,leading to the phenomenon of"vague consolidation"in practice where low holding invested enterprises are consolidated or high holding invested enterprises are not consolidated.Based on this,this article empir-ically tests whether and how"vague consolidation"affects audit fees.We found"vague consolidation"significantly improves audit fees.Mechanism tes-ting found that the audit investment and risk perception of auditors are important mechanisms.Heterogeneity analysis shows that the positive impact of"vague consolidation"on audit fees is more significant among the"Top Ten"audited enterprises;Further research shows that auditors do not issue non-standard audit opinions due to"vague consolidation".This study contributes to a more comprehensive and accurate evaluation of Chinese current consoli-dated financial statement standards,and has reference value for optimizing the consolidated financial statement standards.
万方数据
维普
