Abstract Over the last decade, the joint provision of audit and non-audit services has been criticized for compromising auditor independence and affecting audit quality. Since 2005, the SEC has enacted rules restricting the types of non-audit services audit firms can provide clients. While most non-audit services are prohibited, a range of tax services are still allowed. Therefore, if compromises can emerge from allowing non-audit services, permitting tax services could be problematic. This study investigates the effect of auditor-provided tax services (ATS) on firms' levels of book-tax differences and on investors' mispricing of book-tax differences. Using a propensity-score matched sample from 2000 to 2013, I find strong evidence that firms acquiring ATS exhibit a low level of temporary book-tax differences, which in turn mitigate investors' levels of firms' mispricing. These results do not support regulators' claim that the provision of ATS compromises auditor independence. Instead, it suggests that purchasing ATS can improve overall accounting quality through knowledge spillover and thus help investors better price the value of firms.

中文翻译：

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审计师提供的税收服务对账面税差异和投资者对账面税差异定价错误的影响

摘要在过去的十年中，由于联合提供审计服务和非审计服务会损害审计师的独立性并影响审计质量，因此受到批评。自2005年以来，SEC制定了限制审计公司可以向客户提供的非审计服务类型的规则。尽管大多数非审计服务都被禁止，但仍然允许提供多种税收服务。因此，如果允许非审计服务出现妥协，则允许税收服务可能会出现问题。本研究调查了审计师提供的税收服务（ATS）对公司帐面税差异水平和投资者对帐面税差异定价错误的影响。使用2000年至2013年的倾向得分匹配样本，我发现有力的证据表明，获得ATS的公司表现出较低的暂时性账面税额差异，这反过来减轻了投资者对公司定价错误的水平。这些结果并不支持监管机构关于提供ATS损害审计师独立性的说法。相反，它表明购买ATS可以通过知识溢出提高整体会计质量，从而帮助投资者更好地为公司价值定价。