Model Analyses on Corporate Governance and Disclosure

本研究探讨限制审计师责任如何影响审计风险及其组成部分。限制审计师责任增加了内在风险、审计质量和整体审计风险。进一步，本研究比较了应纳税所得额必须等于会计盈余的符合性情况下与应纳税所得额可能不同于会计盈余的脱钩情况下会计盈余的价值相关性。如果非管理盈余的事前不确定性足够大，或者经理人与资本市场关于经理人薪酬方案的信息不对称足够小，那么一致性情况下的价值相关性大于脱钩情况下的价值相关性。

The current study examines how limiting auditor liability affectes audit risk and its components. Limiting auditor liability increases inherent risk, audit quality, and overall audit risk. Further, the current study compares the value relevance of accounting earnings in the conformity case that taxable income must be equal to accounting earnings with that in the decoupling case that taxable income may be different from accounting earnings. The value relevance in the conformity case is greater than that in the decoupling case if the ex ante uncertainty in the unmanaged earnings is sufficiently large or the information asymmetry between the manager and the capital market regarding the manager's compensation scheme is sufficiently small.