（来源：经济管理学刊）

　　近日，据TAR官网显示，中央财经大学会计学院吴溪、戚赞栎和来自南加利福尼亚大学的Clive S. Lennox合作撰写的论文“Audit Quality and Audit Partner Ownership of Non-Audit Businesses: Evidence from China ”，在国际会计学顶刊The Accounting Review 线上正式发表。

　　# 论文简介 #

　　Title：

　　Audit Quality and Audit Partner Ownership of Non-Audit Businesses: Evidence from China

　　Author：

　　Clive S. Lennox, Zanyue Qi, Xi Wu

　　Abstract：

　　We examine whether audit partners’ ownership stakes in affiliated non-audit businesses are related to audit quality. We argue that non-audit ownership is a relatively sharp measure of auditor-client economic bonding, which can impair auditor independence. Using a unique setting in China where we observe partners’ equity stakes in both audit and non-audit businesses, we find that audit adjustments are significantly smaller when engagement partners hold larger ownership stakes in non-audit businesses. Audit adjustments are further reduced when the entire audit partnership holds greater ownership in affiliated non-audit businesses, suggesting that non-audit ownership matters at the audit firm level as well. Additional analyses suggest that these results are driven by impaired independence, rather than partner distraction or endogenous partner-client matching. Our study informs ongoing policy debates on the structuring of audit and non-audit businesses as well as the investments of non-audit entities in accounting practices.

　　标题： 

　　审计质量与审计合伙人对非审计业务的所有权：来自中国的证据

　　中文摘要：

　　我们考察审计合伙人在关联非审计业务中的持股是否与审计质量相关。我们认为，非审计业务持股是衡量审计师与客户之间经济绑定的一种相对敏锐的指标，而这种经济绑定可能损害审计独立性。利用中国这一独特情境——我们可以观察到合伙人在审计业务和非审计业务中的股权——我们发现，当项目合伙人在非审计业务中持有更高股权时，审计调整显著更小。当整个审计合伙企业在关联非审计业务中持有更多所有权时，审计调整进一步减少，这表明非审计业务持股在审计事务所层面也同样重要。进一步分析表明，这些结果是由独立性受损驱动的，而不是由合伙人分心或内生性的合伙人与客户匹配驱动的。我们的研究为当前关于审计与非审计业务结构安排以及非审计实体对会计实务投资的政策辩论提供了参考。