Endogeneity test of hypothesis 2.

This paper investigates the international accounting network memberships’ impact on audit fees. We find that, firstly, the audit fees charged by the member audit firms are significantly higher; secondly, if the revenue, ranking or audit and accounting business share of the international network the audit firm join is higher, the charge is also higher. Additional results show that economic policy uncertainty will intensify this positive relationship, and member audit firms charge higher fees by improving their overseas expertise. We also find that international network memberships will reduce abnormal audit fees, and improve the quality of financial reports.

本文探究了国际会计网络（international accounting network）成员身份对审计费用（audit fees）的影响。研究结果显示：其一，国际会计网络成员会计师事务所收取的审计费用显著更高；其二，审计事务所加入的国际会计网络的营收规模、行业排名或审计与会计业务占比越高，其收取的审计费用也相应越高。补充检验结果表明，经济政策不确定性（economic policy uncertainty）会强化这一正向关联，且成员会计师事务所可通过提升其海外专业能力来收取更高的审计费用。此外，本文还发现，加入国际会计网络能够降低异常审计费用（abnormal audit fees），并提升财务报告（financial reports）质量。