The impact of PCAOB international registration on audit quality and audit fees: Evidence from China
研究PCAOB注册是否提升审计质量并导致审计费用溢价，利用中国不允许PCAOB检查的特殊环境，发现注册后审计质量提高且客户支付更高费用。
Despite the importance of registration with the PCAOB, there is surprisingly little academic research on the registration process and its impact on audit outcomes (Abernathy et al., 2013). The PCAOB allows registration of audit firms from non-US countries. However, China and a few other countries do not allow the PCAOB to conduct inspections of audit firms. We take advantage of this setting to investigate whether PCAOB-registered audit firms improve audit quality in the absence of inspections and whether they charge an audit fee premium. Our findings indicate that audit quality increases following PCAOB registration and that clients pay higher audit fees for audits by PCAOB-registered firms.