金融風暴過後，投資者及其他利害關係人對原有查核報告之改革聲浪漸大，要求進行審計改革，提升會計師查核報告的透明度，增進其對公眾利益之溝通價值。在公司經營全球化和我國會計環境與世界接軌的趨勢下，我國配合此次改革會計師查核報告之國際潮流，從2016年度財務報表與國際同步適用新式會計師查核報告。本研究主要探討新式查核報告書的實施是否對公司的負債資金成本造成影響。利用台灣2014年至2017年上市上櫃公司的資料，檢驗新式查核報告書與公司的負債資金成本的關聯性。在實證結果發現，新式查核報告書的實施與公司的負債資金成本間存在顯著負相關，此結論可推論新式查核報告書的實施，增加公司的揭露水準，公司負擔的負債資金成本相對降低。

Previously, no matter company size, operational risks and industry characteristics, the content of accountant’s audit reports are all similar. After the global financial crisis in 2008, requirement on the current audit report from investors and other stakeholders has increased gradually. The following should be done to make the content not to be lack of diversity. Accountant’s audit report should disclose company information in deeper depth and more individualize and provide more relevant information to the users of the report. Also, the transparency of the audit report should be enhanced and communica-tion value of the audit report for public interest should be enhanced. First, Financial Reporting Council, abbreviated as FRC, issued the new Standards for Accountant’s Au-dit Report in 2013. Then International Auditing and Assurance Standards Board (ab-breviated as IAASB) issued International Standards on Auditing (abbreviated as ISA), 700 “Forming an Opinion and Reporting on Financial Statements” and other relevant international auditing standards on January 15, 2015 and stipulated that such standards are effective from December 15, 2016 (i.e. financial statement of 2016). Under the trend of business globalization as well as the integration of our accounting environ-ment to the global community, our country cooperates with the international trend of this revolution on accountant’s audit report. From 2016, financial statements are in sync with the international ones to apply new form of accountant’s audit report. The research mainly investigates whether the implementation of new audit report affects cost of debt. The revolution of new accountant’s audit report represents more information disclosure on the market. Investors expected that the possibility of hidden adverse in-formation of the company is smaller and the risks for breach of contract is lower when there is more company information being disclosed. The study expects that the follow-ing after the new audit report has been adopted and the external disclosure level has increased relatively: information asymmetry between the lender and the borrower de-creased; the assessment of breach of contract risk is more transparent; loan risk of creditor is lower; and thus the return for risks asked by the capital supplier will be lower. According to these statements, a hypothesis is formed in this research, which is “Cost of debt will be lower after adopting new audit report.” Information on TWSE/TPEx Listed Companies in Taiwan from 2014 to 2017 is used to inspect the re-lationship between the new audit report and the cost of debt of the companies. To veri-fy the hypothesis, the research uses cost of debt as the dependent variable and the year adopting new audit report as the main variable and sets the control variables from the three aspects, profitability, safety and scale. In this research, operating profit margin and return on assets are used to represent the profitability of the company; standard deviations of quick ratio, interest protection multiples, debt ratio and monthly stock return are used to measure the safety of the company; and natural log of total assets is used to measure company scale. By Pearson correlation coefficient and Spearman cor-relation coefficient of the variables, it has been found that the adoption of new audit reports and cost of debt are in significant negative relationship. This result support the preliminary expectation of the hypothesis of the research.

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