讲座内容：Do auditors care about clients’ compliance with environmental regulations? Evidence from
environmental risk and audit fees
environmental risk and audit fees
讲座老师：李跃(Yue Li) 副教授 University of Toronto
讲座时间：2016年4月29日（周五）上午9点30分
讲座地点：文泉楼南401威斯尼斯人大会议室
内容摘要
This study examines whether auditors charge higher audit fees when auditing clients with significant environmental compliance issues. We argue that compliance with environmental regulations increases audit risk and audit task complexity. We hypothesize that auditors will exercise more effort to reduce audit risk if their clients have environmental compliance risk. We characterise corporate environmental risk using actual corporate environmental compliance data and we use audit fees to proxy for audit effort. Using a longitudinal sample from 2000 to 2012, we find that audit fees are higher for clients with environmental compliance risk. Further analysis indicates that the complexity in corporate environmental regulations has a more direct impact on audit effort than the magnitude of individual environmental risk factors. Our findings provide direct evidence that auditors appear to exercise more effort when auditing clients with environmental compliance issues, despite the fact that the requirements of auditing standards in this area are limited and quite vague.
附简历
Associate Professor，Management Department,University of Toronto Mississauga。Ph. D. in Accounting,Queen’s University（1995）,MBA,University of Toronto（1988）,B. of Science,Huazhong University of Science and Technology（1982）。在The accounting review、Contemporary Accounting Research等发表论文10多篇，主要包括：
1.“The valuation Relevance of Greenhouse Gas Emissions under the European Union Carbon Emissions Trading Scheme,” Peter Clarkson, Yue Li, Matthew Pinnuck, and Gordon Richardson,the European Accounting Review, 2015, Vol. 24, Issue 3, pp. 551-580.
2. “Voluntary Adoption of Independent Audit Committees: Theory and Empirical Evidence from Toronto Venture Exchange Listed Firms,” Feng Chen and Yue Li, the Accounting Review, 2013,Vol. 88, No. 6, pp. 1939-1969.
3.“The relevance of environmental disclosures: Are such disclosures incrementally informative?”Peter Clarkson, Xiao Hua Fang, Yue Li and Gordon Richardson,Journal of Accounting and Public Policy,2013, 32, pp.410-431.
4.“Does it really pay to be green? Determinants and Consequences of Proactive Environmental Strategies,” Clarkson, P., Y. Li, G. Richardson and F. Vasvari.Journal of Accounting and Public Policy, 2011, 30, pp. 122-144.
5. “Valuing IPOs Using Price-Earnings Multiples Disclosed by IPO Firms in an Emerging Capital Market” Firth, M., Y. Li and Steve S. Wang, Review of Pacific Basin Financial Markets and Policies, Volume 11, Issue 3, September 2008, pp. 429-463.
6.“Revisiting the Relation between Environmental Performance and Environmental Disclosure:An Empirical Analysis,” P. Clarkson, Y. Li, G. Richardson, and F. Vasvari, Accounting,Organizations and Society, Volume 33, Issues 4-5, May-July 2008, pp. 303-327.
7. “The Market Valuation of Environmental Capital Expenditures by Pulp and Paper Companies,"Clarkson, P., Y. Li, and G. Richardson, the Accounting Review, April 2004, Vol. 79, No. 2, pp.329-353.
8.“Simultaneous Signaling in IPOs via Management Earnings Forecasts and Retained Ownership:An Analysis of the Substitution Effect,” Li, Y., and B. McConomy, Journal of Accounting,Auditing, and Finance, Winter 2004, Vo. 19, No.1, pp. 1-28.
9. “Time-Varying Default Risk Premiums in the Eurodollar Deposit Market,” Li, Y. and D. G. Wei,Advances in Quantitative Analysis in Finance and Accounting, vol. 9, 2001, pp. 1-29.
10.“Disclosure of Environmental Information by Canadian Manufacturing Companies: A Voluntary Disclosure Perspective,” Bewley, K. and Y. Li, Advances in Environmental Accounting and Management, vol. 1, 2000, pp. 201-226.
11.“An Empirical Examination of Factors Affecting the Timing of Environmental Accounting Standard Adoption and the Impact on Corporate Valuation,” Li, Y. and B. McConomy, Journal of Accounting, Auditing, and Finance, Vol. 14, No. 3, Summer 1999, pp. 279-313.
12.“Corporate Disclosure of Environmental Liability Information: Theory and Evidence," Li, Y, G.Richardson and D. Thornton, Contemporary Accounting Research, Vol. 14, No. 3, Fall, 1997, pp.435-474.
