Key Audit Matters, Audit Quality and Audit Fees: Evidence from China

This paper examines the economic consequences of the implementation of the new auditing reporting standards from the standpoints of audit quality and audit fees in the context of the new auditing standards' exogenous event. Much of the existing research has focused on the empirical study of key audit matters on audit quality, but there is a lack of research on the relationship between key audit matters, audit quality and audit fees. Therefore, this paper selects China listed companies in 2015-2016 as the research sample and empirically tests the three hypotheses on key audit matters, audit quality and audit fees based on theoretical analysis. In the specific design of the empirical study, the absolute value of manipulative accrued profits was selected as an indicator of audit quality, and the results of the logarithm of audit fees and the disclosure of key audit matters were taken as the main explanatory and explanatory variables, together with control variables, as the empirical model of the paper. The Propensity Score Matching PSM method and Difference in Differences DID regression were used to analyse and regression test the model, and finally the empirical results were tested for robustness. The main findings of this paper are as follows: Firstly, A-share companies saw a significant decrease in accrual of earning management following the implementation of the key audit matter standard when compared to control group companies that did not implement the key audit matter standard. Secondly, audit fees have risen significantly since the key audit matter standard was implemented. Thirdly, an increase in audit fees leads to higher audit quality, implying that higher audit fees lead to greater care and dedication in the auditor's practice, which leads to higher audit quality

Online Learning Discriminative Dictionary with Label Information for Robust Object Tracking

A supervised approach to online-learn a structured sparse and discriminative representation for object tracking is presented. Label information from training data is incorporated into the dictionary learning process to construct a robust and discriminative dictionary. This is accomplished by adding an ideal-code regularization term and classification error term to the total objective function. By minimizing the total objective function, we learn the high quality dictionary and optimal linear multiclassifier jointly using iterative reweighed least squares algorithm. Combined with robust sparse coding, the learned classifier is employed directly to separate the object from background. As the tracking continues, the proposed algorithm alternates between robust sparse coding and dictionary updating. Experimental evaluations on the challenging sequences show that the proposed algorithm performs favorably against state-of-the-art methods in terms of effectiveness, accuracy, and robustness

Ruminal microbiota and muscle metabolome characteristics of Tibetan plateau yaks fed different dietary protein levels

IntroductionThe dietary protein level plays a crucial role in maintaining the equilibrium of rumen microbiota in yaks. To explore the association between dietary protein levels, rumen microbiota, and muscle metabolites, we examined the rumen microbiome and muscle metabolome characteristics in yaks subjected to varying dietary protein levels.MethodsIn this study, 36 yaks were randomly assigned to three groups (n = 12 per group): low dietary protein group (LP, 12% protein concentration), medium dietary protein group (MP, 14% protein concentration), and high dietary protein group (HP, 16% protein concentration).Results16S rDNA sequencing revealed that the HP group exhibited the highest Chao1 and Observed_species indices, while the LP group demonstrated the lowest. Shannon and Simpson indices were significantly elevated in the MP group relative to the LP group (P < 0.05). At the genus level, the relative abundance of Christensenellaceae_R-7_group in the HP group was notably greater than that in the LP and MP groups (P < 0.05). Conversely, the relative abundance of Rikenellaceae_RC9_gut_group displayed an increasing tendency with escalating feed protein levels. Muscle metabolism analysis revealed that the content of the metabolite Uric acid was significantly higher in the LP group compared to the MP group (P < 0.05). The content of the metabolite L-(+)-Arabinose was significantly increased in the MP group compared to the HP group (P < 0.05), while the content of D-(-)-Glutamine and L-arginine was significantly reduced in the LP group (P < 0.05). The levels of metabolites 13-HPODE, Decanoylcarnitine, Lauric acid, L-(+)-Arabinose, and Uric acid were significantly elevated in the LP group relative to the HP group (P < 0.05). Furthermore, our observations disclosed correlations between rumen microbes and muscle metabolites. The relative abundance of NK4A214_group was negatively correlated with Orlistat concentration; the relative abundance of Christensenellaceae_R-7_group was positively correlated with D-(-)-Glutamine and L-arginine concentrations.DiscussionOur findings offer a foundation for comprehending the rumen microbiome of yaks subjected to different dietary protein levels and the intimately associated metabolic pathways of the yak muscle metabolome. Elucidating the rumen microbiome and muscle metabolome of yaks may facilitate the determination of dietary protein levels

Robust and accurate online pose estimation algorithm via efficient three‐dimensional collinearity model

In this study, the authors propose a robust and high accurate pose estimation algorithm to solve the perspective‐N‐point problem in real time. This algorithm does away with the distinction between coplanar and non‐coplanar point configurations, and provides a unified formulation for the configurations. Based on the inverse projection ray, an efficient collinearity model in object–space is proposed as the cost function. The principle depth and the relative depth of reference points are introduced to remove the residual error of the cost function and to improve the robustness and the accuracy of the authors pose estimation method. The authors solve the pose information and the depth of the points iteratively by minimising the cost function, and then reconstruct their coordinates in camera coordinate system. In the following, the optimal absolute orientation solution gives the relative pose information between the estimated three‐dimensional (3D) point set and the 3D mode point set. This procedure with the above two steps is repeated until the result converges. The experimental results on simulated and real data show that the superior performance of the proposed algorithm: its accuracy is higher than the state‐of‐the‐art algorithms, and has best anti‐noise property and least deviation by the influence of outlier among the tested algorithms

Key Audit Matters, Audit Quality and Audit Fees: Evidence from China

This paper examines the economic consequences of the implementation of the new auditing reporting standards from the standpoints of audit quality and audit fees in the context of the new auditing standards' exogenous event. Much of the existing research has focused on the empirical study of key audit matters on audit quality, but there is a lack of research on the relationship between key audit matters, audit quality and audit fees. Therefore, this paper selects China listed companies in 2015-2016 as the research sample and empirically tests the three hypotheses on key audit matters, audit quality and audit fees based on theoretical analysis. In the specific design of the empirical study, the absolute value of manipulative accrued profits was selected as an indicator of audit quality, and the results of the logarithm of audit fees and the disclosure of key audit matters were taken as the main explanatory and explanatory variables, together with control variables, as the empirical model of the paper. The Propensity Score Matching PSM method and Difference in Differences DID regression were used to analyse and regression test the model, and finally the empirical results were tested for robustness. The main findings of this paper are as follows: Firstly, A-share companies saw a significant decrease in accrual of earning management following the implementation of the key audit matter standard when compared to control group companies that did not implement the key audit matter standard. Secondly, audit fees have risen significantly since the key audit matter standard was implemented. Thirdly, an increase in audit fees leads to higher audit quality, implying that higher audit fees lead to greater care and dedication in the auditor's practice, which leads to higher audit quality