CAJ | 학술논문

声誉惩罚机制是审计市场优胜劣汰的保障。当发生审计师的毁誉事件时，应该在观察到其客户股价下跌之后，发现审计师客户的流失或审计费用的降低。只有两者的发生才表明审计师产生了经济损失，声誉惩罚机制才得以形成。为了考察我国审计市场声誉惩罚机制是否形成，文章以财政部对审计行业的质量检查处罚公告为背景，实证检验了事件是否造成了该事件审计师客户的流失和审计费用的降低，结果表明处罚公告并未给审计师带来明显的经济损失，说明审计市场声誉惩罚机制的形成尚待时日。
성예징벌궤제시심계시장우성렬태적보장。당발생심계사적훼예사건시，응해재관찰도기객호고개하질지후，발현심계사객호적류실혹심계비용적강저。지유량자적발생재표명심계사산생료경제손실，성예징벌궤제재득이형성。위료고찰아국심계시장성예징벌궤제시부형성，문장이재정부대심계행업적질량검사처벌공고위배경，실증검험료사건시부조성료해사건심계사객호적류실화심계비용적강저，결과표명처벌공고병미급심계사대래명현적경제손실，설명심계시장성예징벌궤제적형성상대시일。
Reputation punishment mechanism can ensure the fittest to survive in the auditing market. When an event damaging the au- ditor＇ s reputation happens, we should observe the decline of share prices for clients of the involved auditor, and then find the customer churn or audit fee reduction of the auditor. Only these phenomena mean that the economic losses of the auditor have been produced and the auditor reputation punishment mechanism has been formed in the market. In order to observe whether the reputation punishment mechanism has been formed in Chinese auditing market, this paper examines the reputation pun- ishment mechanism in audit market against the background of the disciplinary announcement released by the Ministry of Fi- nance of PRC in 2005. The findings show that the disciplinary announcement does not lead to evident economic losses for the sanctioned auditors, indicating that the reputation punishment mechanism has not been well established in Chinese auditing market now.