The Impact of Related-Party Transactions on Audit Opinion-Evidence from Listed in China

• Main Authors: LIU,MENG-SHIN, 劉孟鑫
• Other Authors: SHU, PEI-GI
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/8gx2v6

碩士 === 輔仁大學 === 金融與國際企業學系金融碩士班 === 107 === Since 1997, the Chinese Communist Party has proposed that the 15th National Congress should strategically adjust the economic layout and reorganize state-owned enterprises. The purpose is to allow state-owned enterprises to gradually withdraw from the controlling shareholder's role. Listed companies are mostly reformed by state-owned enterprises. The audit opinion is the basis for an investor's important reference to a company. In 2006, China revised the requirements for the disclosure of related party transactions and implemented it in 2007. Therefore, this paper would like to discuss after the changes in accounting standards, whether the related party transactions will affect the audit opinion of the company's financial statements. Therefore, this paper analyzes China's listed A-share companies from 2009 to 2017, by observing whether the related party transactions will affect the accounting firm's audit opinion, and then we segment different financial indicators and corporate governance variables by regression. The results of the analysis are to observe whether the related party trading behavior will affect the impact of the auditing opinions issued by the accounting firm. The purpose of this study is to find out the related party transactions will save costs or hollow out the company. The main results of this paper are divided into three parts: 1. The related party transaction will affect the audit opinion issued by the accounting firm. 2. The types of related party transactions affect the effectiveness of audit opinions, according to the type can be divided into three categories of goods, assets, funds, according to the direction of the transaction can be divided into two categories of buying and selling, the most exposed is the commodity category Secondly, the capital category, and finally the asset class, and the type with the highest impact effect belongs to the capital category. The transaction direction that affects the better effect is sales, so it is the easiest to be discovered and the audited opinion issued by the accounting firm is the related party. Capital lending, followed by related party commodity sales, related party asset sales and related party fund lending, from which it can be found that bad related party transactions will first select the transaction type, followed by the related party transaction direction. 3. This study finds that adding different adjustment variables, the effect is not the same, when the higher the separation of the two powers, the operation method can be diversified, so the separation of the two powers will weaken its effect; and the higher the debt ratio The easier it is for a company to operate through related party transactions, so it will strengthen its effectiveness. The previous 12 major accounting firms have checked the company as a difference, and can find that the audit opinions issued by the top 12 accounting firms are more credible and professional. Sex, it is easier to expose bad related transactions, so the audit opinions issued by the top 12 accounting firms can enhance their effectiveness; when the company is a state-owned company or a private company, it can be found that state-owned companies are more likely to be discovered by accountants. On the contrary, private companies are better at hiding, and accountants are less likely to be aware; the higher the ratio of independent directors, the more likely it is to produce a revised audit opinion, indicating that independent directors are unable to exercise independent supervision in dealing with related parties; regardless of whether the controlling shareholder pledge ratio is high or low. The company, the company is easy to be issued a revised audit by the accountant in the use of related party transactions.