CAJ | 학술논문

本文以2001-2012年93家因虚假陈述被证监会惩戒的公司和39家审计师被同时惩戒的公司为研究样本，采用Bivariate probit和两阶段最小二乘法模型对审计意见和审计师惩戒之间的关系进行了验证。研究结果表明，我国审计师出具非标意见反而越易受到惩戒，且惩戒程度也越高的悖论，这与我们的预期不符。而进一步研究发现，这是由于审计意见变通所导致。监管部门有效发现了审计意见变通行为，因此审计师仅出具非标意见不足以保护自身，只有有效披露公司的重大错报，出具正确恰当的审计意见才可以远离惩戒。本文的研究对于正确认识审计师惩戒有着重要的启示，同时为监管机构出台更加有效的审计监管政策提供一定的借鉴。
본문이2001-2012년93가인허가진술피증감회징계적공사화39가심계사피동시징계적공사위연구양본，채용Bivariate probit화량계단최소이승법모형대심계의견화심계사징계지간적관계진행료험증。연구결과표명，아국심계사출구비표의견반이월역수도징계，차징계정도야월고적패론，저여아문적예기불부。이진일보연구발현，저시유우심계의견변통소도치。감관부문유효발현료심계의견변통행위，인차심계사부출구비표의견불족이보호자신，지유유효피로공사적중대착보，출구정학흡당적심계의견재가이원리징계。본문적연구대우정학인식심계사징계유착중요적계시，동시위감관궤구출태경가유효적심계감관정책제공일정적차감。
In this paper,based on the analysis of a sample of companies sanctioned by CSRC between 2001 and 2012 ,we compared companies that were sanctioned without involving auditors with those whose auditors were simul- taneously sanctioned by CSRC. Using a bivariate probit model, we found a significant positive association between the modified audit opinions and auditors＇ sanctions. This is inconsistent with our expectations. Further studies disclosed that ambiguous audit opinions led to that. However, regulators could effectively find this behavior. Our findings prove that the modified audit opinions are not enough to protect auditors, To avoid being punished, the auditors should further disclose the material misstatements of the companies＇ reports in their modified audit reports.