| Summary: | 碩士 === 東吳大學 === 會計學系 === 93 === Since the Securities and Futures Bureau revised the Regulation #22 of the “Criteria Governing the Preparation of Financial Reports by Securities Issuer” in 2002, and the “Examining & Disclosing Information System” (EDIS) been established by the Securities and Futures Institute in 2003. There were many listed companies voluntarily exposed their audit fee and non-audit fee information. Some of them are at the threshold of been disclosed, and some of them exposed their information for looking better under the new system. The purpose of this research is to investigate the characteristics of those voluntary companies. Also to analyze the determinant of audit fee and non-audit fee by using the companies’ exposed information; as well as to test and verify that whether the existing audit fee model is suitable for inferring the current audit fee or not.
The result discovered that the Information Transparency, debt ratio, profitability and foreign financing are the important factors to influence whether the company would voluntarily expose their information or not. Meaning that when a company has higher debt ratio, stronger profitability, and issuing securities overseas, and having a high Information Transparency annual reports with details; the company will have more motives to voluntarily expose their audit fees and non-audit fees.
All of the listed companies’ audit fee determinants are size of auditee, audit units, and accounting firms. The listed companies’ non-audit fee determinant is only the accounting firms. Therefore, the determinants for audit fee and non-audit fee are different. After separating the listed companies into IPO and non-IPO, the regression analysis discovered that the IPO’ determinants for audit fee are size of auditee, audit units, and total debt to equity capital ratio, while the non-IPO’ determinants are size of auditee, receivables plus inventory to total assets ratio and accounting firms. Their audit fee determinants are different. Also the IPO’ determinant for non-audit fee are receivables plus inventory to total assets ratio and profitability, while the non-IPO’ determinant is only the accounting firms. Again, the IPO’ determinant for non-audit fee are different with the non-IPO.
After testing and verify the model, the estimation of Pei-Pei Lee’s audit fee model has an outstanding difference with the actual audit fees exposed by the companies. This means that the audit fee model is not suitable for inferring today’s audit fee.
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