依據金管會規定,上市櫃公司發生財務長異動或會計師異動時,均屬應即時發布重大訊息之重大事項。本研究基於訊號理論與審計風險模型,探討財務長異動是否釋放企業風險上升之訊號,反映在會計師事務所的更換決策上。本研究以 2015 年至 2024 年臺灣上市櫃公司為實證對象,檢驗財務長異動與會計師事務所異動之關聯性。
實證結果發現,財務長異動與會計師事務所異動呈現顯著正向關係,顯示當企業發生財務長異動時,會計師事務所更換之機率顯著提高。在額外分析中,此一正向關聯在大型公司及電子業中尤為顯著;且在未發生財報重編的情境下,此關聯依然穩健。本研究之貢獻在於補足財務長對審計決策影響之研究缺口,並呼應主管機關推動審計品質指標之精神,提供董事會與監理機關於評估治理風險時之實證參考。

According to the regulations of the Financial Supervisory Commission, any turnover of the Chief Financial Officer (CFO) or the external auditor in listed companies is considered a material event that requires immediate disclosure via Material Information. Based on signaling theory and the audit risk model, this study investigates whether CFO turnover signals increasing corporate risk, which is subsequently reflected in audit firm replacement decisions. Using an empirical sample of Taiwan-listed companies from 2015 to 2024, this research examines the association between CFO turnover and auditor changes.
The empirical results reveal a significant positive association between CFO turnover and auditor changes, indicating that the probability of an audit firm change increases when a company changes its CFO. In additional analyses, this positive association is particularly pronounced among samples audited by the large-scale companies and the electronics industry. Furthermore, the association remains robust in stable scenarios where no financial restatements occurred. The contributions of this study are twofold: first, it fills a research gap on the impact of the CFO on auditing decisions; second, it aligns with regulatory efforts to promote Audit Quality Indicators, providing empirical evidence for boards of directors and regulatory authorities when evaluating governance risks.

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