签字注册会计师的自然轮换状态与强制轮换政策的初步影响

本文考察了中国证券市场中签字注册会计师的自然轮换规律以及强制轮换政策产生的初步影响。自然轮换状态下的经验证据显示,会计师事务所与上市客户之间的长期业务关系普遍以个别签字注册会计师的长期连续签名方式维系。强制轮换政策施行后,各证券特许会计师事务所对该政策的遵循程度从2003年审中的50%左右提高到了2004年审中的80%左右。通过观察签字注册会计师强制轮换前后的审计结果变化,我们初步估计签字注册会计师的强制轮换对提高证券特许会计师事务所公开报告上市公司潜在财务报告问题的促进作用是有限的。

Rotation of Signing Auditors: Natural State and Mandatory Rule's Initial Effect in Chinese Securities Market

This paper examines the natural state of rotation of signing auditors in Chinese securities market and the initial effect of the mandatory rotation rule enacted in late 2003.Evidence on the natural state shows that the long engagement relationship between an accounting firm and a listed client was usually maintained in the name of very few individual signing auditors mostly with a consecutively-signing pattern.After the enact of mandatory rotation rule,the compliance rate increased from about 50% in 2003 annual audit up to about 80% in 2004 annual audit.Based on a preliminary comparison between audit results before and after the mandatory rotation,very limited effect of the mandatory rule is expected on substantially enhancing the accounting firm disclosing financial reporting problems of listed companies.