台灣自2016年起規範查核會計師須報導查核過程當中最為重要之事項，即關鍵查核事項。本文旨在探討企業之債務資金成本是否因揭露關鍵查核事項而改變，以2013年至2018年作為研究觀察期間。本文以金管會公告之前三名關鍵查核事項，分別為存貨、收入及減損為研究標的，以了解當企業被報導此三項關鍵查核事項時，是否會有較高之債務資金成本，抑或債務資金成本之高低係受到公司本身之財務狀況所限。實證結果發現，不論企業係被報導存貨、收入或減損之關鍵查核事項之任一項，皆與公司之債務資金成本間無顯著關係，意即頭三年之關鍵查核事項之個別報導，對於企業債務資金成本並無顯著之增額資訊影響。然而，本研究在其他分析發現，若公司同時被報導二項(含)以上之關鍵查核事項，則會有顯著較高之債務資金成本。透過本文實證結果，希冀提供相關關鍵查核事項有用性文獻之參考依據。

Beginning in 2016, auditors in Taiwan were required to report the most important matters in their auditing process, i.e., key audit matters. The objective of this study was to determine whether the cost of debt in a company varies with the disclosure of key audit matters. The observation period of this study comprised the three years before and after the implementation of the key audit matter policy. Using the three most reported key audit matters announced by the Financial Supervisory Commission of Taiwan, namely, inventory, revenue, and impairment, this study investigated whether the reporting of these three key audit matters leads to higher cost of debt or whether cost of debt is determined by the financial conditions of the company. The empirical results indicated that whether any of the three key audit matters was reported had no significant relationship with the company’s cost of debt. In other words, the reporting of any individual key audit matter in the first three years of the study period offered no significant incremental information regarding the company’s cost of debt. However, the reporting of any two or more of these key audit matters resulted in significantly higher cost of debt. It is hoped that the empirical results of this study can provide reference regarding the usefulness of key audit matters.

目錄
第壹章　緒論	1
第一節　研究背景與動機	1
第二節　研究目的	3
第三節　研究架構與流程	4
第貳章　文獻探討與假說發展	7
第一節　關鍵查核事項	7
第二節　債務資金成本	10
第三節　假說發展	13
第參章　研究方法	15
第一節　樣本選取與資料來源	15
第二節　變數衡量與實證模型	17
第肆章　實證結果與分析	22
第一節　敘述性統計	22
第二節　相關係數分析	25
第三節　迴歸結果	27
第四節　額外分析	37
第伍章　結論與建議	39
第一節　研究結論	39
第二節　研究限制與建議	40



圖目錄
圖1　研究流程圖	6

 
表目錄
表1　樣本分布表	16
表2　敘述性統計量	23
表3　差異性檢定	24
表4　Pearson相關係數矩陣	26
表5　迴歸分析	29
表6　迴歸分析_不同財務風險程度之分析	32
表7　額外分析	38

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