财务、会计Seminar第一百五十六期讲座

题目:Brain Drain or Survival of the Fittest: Determinants and Consequences  of Auditors’ Leaving Public Accounting

演讲者:Zhuang Zili   教授

                香港中文大学商学院会计系

时间:201747日(周五)上午 1000 - 11:30

地点:嘉庚二205

主持人:熊枫 助理教授

  者:对会计、财务研究有兴趣的师生

论文简介:This study investigates why auditors leave public accounting and the  consequences of auditor departures. We find that both individual auditor  demographics and audit competency are associated with a departure decision.  Specifically, female, young, or non-Big 4 auditors, or those with better  education backgrounds have a higher likelihood and hazard of departing public  accounting. Audit partners or managers or those with higher audit competency  have a lower likelihood and hazard of departure. In terms of consequences, we  find that the audit firm is more likely to lose clients whose incumbent auditor  departs and it tends to lower audit fees for clients that stay with the audit  firm. However, the audit quality of such clients does not change after their  auditor’s departure. Interestingly, audit quality decreases for clients whose  departed auditors later become corporate executives. Our study provides insights  that should be of interest to the audit profession, audit firms, and  regulators.


Zili Zhuang is an Associate Professor of Accounting at The Chinese  University of Hong Kong. Professor Zhuang received his Bachelor’s degree in  international economics from Renmin University of China. He then studied at  Tepper School of Business of Carnegie Mellon University where he received MSc  and Ph.D. degrees in economics. He joined Fannie Mae in Washington DC as an  economist working on credit pricing and analysis after receiving the Ph.D.  degree. He obtained post-doctoral graduate training in accounting at the Wharton  School of the University of Pennsylvania before starting his academic career at  The Chinese University of Hong Kong. Professor Zhuang has broad research  interests including capital markets, corporate governance, international  accounting, and corporate finance. He has published in top academic journals  such as The Accounting Review, Contemporary  Accounting Research, Review of Accounting Studies, Journal of Accounting,  Auditing and Finance, Journal of Accounting and Public Policy, and Journal of  Business Finance and Accounting. He has taught financial and managerial  accounting, corporate financial reporting, and management control systems at  both the undergraduate and the masters levels.