使用應計基礎下的盈餘數字較能傳達經理人有關未來獲利的私有資訊，經理人可藉由本期裁量性應計項目之調整反映未來經濟情況的變動；但裁量性應計項目的數額亦有可能受到經理人因自利動機的投機行為所影響，此時的裁量性應計項目不但無法反映出未來獲利資訊反而會使盈餘數字受到扭曲。公司之查核事務所審計品質的高低對裁量性應計項目的資訊價值有很大的影響，具有高審計品質的產業專家會計師事務所較能限制經理人投機性的盈餘管理而增加裁量性應計項目的資訊價值，因此市場對產業專家查核公司之裁量性應計項目的評價關係應較非產業專家查核公司強。
　　本研究即從股票報酬的觀點驗證市場對產業專家查核公司裁量性應計項目之評價關係是否較對非產業專家查核公司的強，並且藉由未來獲利及現金股利發放變動探討市場對裁量性應計項目的評價是否真的是來自經理人經由裁量權所增加的資訊價值。實證結果顯示市場對產業專家查核公司的裁量性應計項目評價關係較強，驗證了市場所認為，產業專家所查核的裁量性應計項目具有較高資訊價值的假設。藉由未來獲利所驗證裁量性應計項目的資訊價值則在產業專家和非產業專家間區別不顯著，可能是非產業專家的裁量性應計項目受到經理人盈餘管理的影響，故亦具有如同產業專家溝通未來獲利的資訊價值；使用未來現金股利增減變動驗證的結果則顯示產業專家查核的裁量性應計項目之資訊價值較非產業專家查核的高，代表產業專家的查核過程確實能增加裁量性應計項目的資訊價值。

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