Japan's Big 3 Firms' Response to Clients' Business Risk: Greater Audit Effort or Higher Audit Fees?
Japan's Big 3 Firms' Response to Clients' Business Risk: Greater Audit Effort or Higher Audit Fees?
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DOI：
10.1111/j.1099-1123.2012.00464.x
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发表时间：
2013-07
期刊：
影响因子：
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通讯作者：
Hyonok Kim;Hironori Fukukawa
中科院分区：
文献类型：
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作者：
Hyonok Kim;Hironori Fukukawa
这项研究考察了日本三大审计公司是否以及如何应对客户的业务风险，以及它们的反应是否有所不同。解决客户较高业务风险的两种可能方法是增加审计工作(例如，增加总审计时间或指派更有经验的工作人员到审计团队)和收取风险溢价，以弥补未来可能出现的损失，而不增加审计工作。尽管日本审计界发布的审计准则和审计费用确定指南显然假设审计师选择第一种方法来应对客户的高业务风险，但每一家三大会计师事务所采用的方法都是一个经验问题。通过使用结构方程模型和普通最小二乘回归对日本三大会计师事务所的审计数据进行分析，我们发现不同的事务所对客户较高的商业风险的反应是不同的。虽然其中两家事务所增加了审计工作，并对业务风险较高的审计收取风险溢价，但第三家事务所只有通过增加审计工作来应对客户的业务风险。此外，客户的业务风险与审计工作/费用之间的关系在不同的事务所之间存在着不同的强度。
This study examines whether and how the Big 3 audit firms in Japan respond to clients' business risk and whether their responses vary. Two possible approaches to addressing clients' higher business risk are increasing audit effort (e.g., increasing total audit hours or assigning more experienced staff to the audit team) and charging a risk premium to cover possible future losses without increasing audit effort. Although the auditing standards and audit fee determination guidelines issued by the Japanese audit profession apparently assume that an auditor chooses the first approach to respond to clients' high business risk, the approach adopted by each Big 3 firm is an empirical issue. By analyzing data on audits conducted by the Big 3 Japanese firms using structural equation modeling and ordinary least squares regression, we find that responses to clients' higher business risk vary among the firms. While two of the firms increase audit effort and charge a risk premium for audits with higher business risk, the third firm responds to clients' business risk only by increasing audit effort. In addition, the strength of the relationships between clients' business risk and audit effort/fees varies among the firms.