Abstract: Past researches show auditors usually seek to compensate for high client risk through increasing audit fees. This paper uses profit decrease after initial public offering as an indicator of company risk. The study finds no higer audit fees charged to companies with high risks in IPO. However, the ratio of audit fee to underwriting fee is significantly increased, but this effect is weakened in state-owned companies.

摘要： 过往研究表明，当客户风险较高时，会计师事务所通常会通过提高审计收费来补偿其带来的诉讼风险。本文通过IPO后企业业绩变脸的现象来衡量企业的风险。研究结果表明，在对风险较高的企业进行IPO审计过程中，事务所并不会通过提高审计费用来补偿其风险，但是另一方面，会计师的收费与投行收费之比会显著地提高，尽管这种关系在国有企业IPO项目中会被削弱。