德勤－复旦会计论坛系列252期讲座
时间：2025年 6月5日（周四）下午1:30
地点：李达三楼105教室
主持人: 黄蓉 教授
报告人: 姜雪峰 John Jiang（Michigan State University）
题 目: U.S. Audit Partner Compensation
摘 要: Using individual-level income data from mortgage applications, we provide the first empirical study on U.S. audit partner compensation. We find that the average partner compensation is $678,280, ranging from $344,000 in 25th percentile to $923,000 in 75th percentile. Over half of the variation in partner compensation is explained by publicly observable audit firm and partner characteristics. Partner compensation is strongly associated with her clients’ audit fees but not with non-audit fees; a 1% increase in audit fees corresponds to a 0.11% increase in partner compensation. Partner compensation is significantly lower following adverse internal control opinions but not following restatements. We find no evidence of compensation discrimination against female or minority partners. Profit-sharing occurs at the firm level rather than the oice level. Although partners are not rewarded for auditing clients with more critical audit matters, their compensation is more sensitive to audit fees for these riskier clients. Last, partners do not share firm profits with associates but share a small portion with senior associates and managers. Our study contributes to a deeper understanding of U.S. audit partners’ incentives and answers calls for research from academics and regulators.
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