臺灣博碩士論文加值系統

本研究探討投資人情緒影響會計師關鍵查核事項(Key Audit Matter，KAM)揭露關聯性，藉由投資人情緒對揭露關鍵查核事項迴歸分析顯示，投資人情緒與揭露關鍵查核事項呈顯著正向關係，投資人情緒愈高，會計師愈會揭露關鍵查核事項資訊。接著探討資產報酬率(ROA)盈餘資訊為好消息或壞消息與關鍵查核事項揭露關聯性，結果顯示當ROA盈餘資訊為有利消息時，會計師揭露關鍵查核事項愈保守，另外再加入其他財務特性及公司規模對關鍵查核事項揭露影響，以消費者信心指數(Consumer Confidence Index，CCI)為投資人情緒衡量變數。

隨著前期ROA及托賓Q比率增加會顯著降低會計師關鍵查核事項揭露程度；但當期每股盈餘(EPS)及前期淨值報酬率(ROE)對關鍵查核事項資訊揭露並不顯著；而公司規模增加則會顯著增加會計師關鍵查核事項資訊揭露程度，因關鍵查核事項包含財報重大不實表達風險者，或報導期間發生之重大事件交易，亦或管理階層高度不確定的重大會計估計變動事項，會計師考量公司規模愈大，營運風險及相關查帳風險因素而增加資訊揭露；另外，高科技電子產業因相關財務及營運風險較高，會計師查核報告會揭露較多關鍵查核事項數量。

既然關鍵查核事項溝通對象是投資人或其他財報外部使用者，為增加瞭解會計師查核過程，儘量語法簡單明瞭，避免使用艱澀會計或審計專業術語，才有助雙向溝通，增進財務報表資訊透明度及表達價值，協助公司治理單位溝通重大決策，使財報使用者更了解會計師查核重點，減少溝通資訊不對稱，俾利審計品質提昇。

This paper examines the relevance of investor sentiment to an accountant’s disclosure of key audit matters (KAM). A regression analysis was conducted on the impact of investor sentiment on KAM disclosure and a significant positive correlation between them was found, showing that the higher the investor sentiment is, the more KAM an accountant will disclose. This paper then explores how favorable or unfavorable information of return on asset (ROA) is, as well as its relevance to KAM disclosure. The findings suggest that an accountant tends to be more conservative in KAM disclosure when ROA information is favorable. This paper also studies the impact of other financial characteristics and corporate size on KAM disclosure, while using the consumer confidence index (CCI) to measure investor sentiment.

An increase in ROA and Tobin’s Q ratio in the previous period significantly reduces the level of KAM disclosure. Earnings per share (EPS) in the current period and return on equity (ROE) in the previous period do not have a significant impact on KAM disclosure. An increase in corporate size significantly increases the level of KAM disclosure due to the fact that KAM takes into account risks of material misstatements in financial statements, significant events or transactions that occurred during the reporting period, and significant changes in accounting estimates related to high management uncertainty. Considering that the increase in corporate size may entail higher operational and audit risks, an accountant tends to disclose more information. Moreover, high-tech electronic industries have relatively higher operational and financial risks, so their accountants may disclose more KAM as well.

KAM are useful to investors and other external users of financial statements. To give them a better understanding of the audit process, audit reports should be easily accessible in their language and should avoid abstruse accounting or auditing terminology. Only by so doing can said reports facilitate mutual communication, improve the transparency and value of financial statements, help corporate governance units to better communicate major decisions, help users of financial statements better understand the emphasis of auditing, and reduce information asymmetry, thereby improving audit quality.

目 錄
　　　　　　　　　　　　　　　　　　　　　　
中文摘要 --------------------------------------------------------------- i
ABSTRACT --------------------------------------------------------------- ii
誌謝 ------------------------------------------------------------------- iii
目錄 ------------------------------------------------------------------- iv　
表目錄 ----------------------------------------------------------------- v　
圖目錄 ----------------------------------------------------------------- vi　
壹、緒論 --------------------------------------------------------------- 1
　　一、研究動機與目的 ------------------------------------------------- 1
　　二、研究對象與流程 ------------------------------------------------- 3
貳、文獻探討 ----------------------------------------------------------- 5
　　一、關鍵查核事項 --------------------------------------------------- 6
　　二、消費者信心指數 ------------------------------------------------- 11
參、研究設計與方法 ----------------------------------------------------- 16　
　　一、研究假說 ------------------------------------------------------- 16
　　二、抽樣與資料來源 ------------------------------------------------- 18
三、實證迴歸模型 --------------------------------------------------- 20
肆、實證分析 ----------------------------------------------------------- 23
　　一、敘述性統計 ----------------------------------------------------- 23
　　二、皮爾森相關係數分析 --------------------------------------------- 25
　 三、複迴歸分析 ----------------------------------------------------- 27
　四、敏感性測試 ------------------------------------------------------- 30
五、內生性問題 --------------------------------------------------------- 36
伍、結論 --------------------------------------------------------------- 40
參考文獻 --------------------------------------------------------------- 43

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