In order to effectively improve the efficiency of the capital market in China,following the introduction of the registration-based IPO system,China has accordingly reformed the delisting system as a complementary system.The new delisting rules have further refined relevant indicators,strengthened the accountability of auditors,thereby raised the pressure and risks of audit.Do the new rules have any impact on audit fees?Taking the new delisting rules introduced at the end of 2020 as an opportunity for research and selecting a sample of A-share listed companies from 2016-2022,the study shows that the new delisting rules have caused auditors to increase audit fees to compensate for the excessive risks as the new rules increase the audit risks and auditor reputational risk of companies at risk of delisting.The increase in audit fees is greater in non-state-owned enterprises,and companies with poorer inner governance,fewer institutional investors and less media attention.With the increase of audit fees,the audit efficiency of auditors rises,the audit aggression is mitigated,and audit quality is improved.The findings enrich the research on the factors affecting audit fees from the perspective of changes in the delisting system,while providing audit market-level evidence for the further improvement of the delisting system.
new delisting rulesaudit feesaudit riskauditor reputation
万方数据
维普
