喻园管理论坛2023年第53期(总第876期)

演讲主题: How Does Key Audit Matter Disclosure Enhance Audit Reports' Communicative Value? Evidence from the Chinese Market

主 讲 人: 靳庆鲁，上海财经大学会计学院院长、教授

主 持 人: 高   茹，澳门十大电子正规游戏网站会计系教授

活动时间: 2023年6月13日（周二） 15:00-16:30

活动地点: 管理大楼107室

主讲人简介：

靳庆鲁，现任上海财经大学会计学院院长，教育部首批“全国高校黄大年式教学团队”负责人、上海市“为人、为师、为学”先进典型团队负责人，首批教育部哲学社会科学实验室（培育）负责人，多项国家级高层次人才计划入选者，享受国务院政府特殊津贴。主要研究领域为“制度、体制改革与公司会计及财务问题研究”，始终坚持“厚植中国 面向国际”的学术理念，积极开展具有普适意义的原创性研究和符合中国情境的前瞻性研究。自2005年以来，在 The Accounting Review，Review of Accounting Studies，Contemporary Accounting Research，《经济研究》，《经济学（季刊）》，《管理科学学报》等期刊发表论文40余篇。主持完成省部级及以上课题20余项，其中3个项目在国家自科项目绩效评估中获评“特优”，1个教育部人文社会科学重点研究基地重大项目被评估为“优秀”，相关系列成果作为项目成果巡礼入选国家自然科学基金委2017年度报告。始终坚守一线教学，注重将学术前沿融入教育教学，把着力点放在学生创新精神与实践能力的培养上。先后获得上海市育才奖，宝钢优秀教师奖，科学中国人·年度人物，上海财经大学教书育人标兵、师德标兵、优秀共产党员等荣誉。入选2022中国财经大学高贡献学者榜单。

活动简介：

Based on audit reporting reform in China, we find that key audit matter (KAM) disclosure enhances audit reports’ communicative value, leading to higher market valuations, lower bid-ask spreads, and lower cost of capital. These effects stem primarily from auditors’ key observations on KAMs provided in audit reports (a more discretionary part) rather than the amount of KAMs or the extensiveness of related audit procedures (the more mandatory parts). Provision of key observations is more commonly seen for firms with strong motivation to reduce information asymmetries but limited means to do so (proxied by firms facing tight financial constraints and having low analyst following). Further examination uncovers that the documented phenomenon is particularly salient for firms with substantial financing need (high growth, high financial risk, located in regions with low financial market development, private rather than state ownership) and those surrounded with high uncertainty. Evidence from the linguistic features of audit reports and the linkage to financial reports—other discretionary aspects—lends further support.