In the Internet era, the real economy and theinternet are deeply integrated, and the “Internet+” business model comes intobeing. Under the modern risk-oriented theory, the risk of customer materialmisstatement becomes an important factor that auditors focus on, and alsobecomes the starting point of audit execution and audit pricing. Investmentbehavior is certainly a factor that auditors need to mainly focus on whenassessing the risk of material misstatement. Based on the background of theenterprise’s implementation of the internet business model and drawing on theexisting research results at home and abroad, this paper takes thenon-state-owned listed companies in 2013-2018 as the research sample, and usesthe modern audit risk-oriented theory. The investment behavior is divided intotwo parts—the financial investment and long-term equityinvestment to research the impact of the two types of investment on the auditfees from the theoretical and empirical perspectives. Besides, we also analyzethe adjustment effect of “Internet+” on the relationship between investmentbehavior and audit fees. Studies have shown that the level of enterprises’investment will significantly increase audit costs. Further research shows that“Internet+” strengthens the relationship between corporate investment behaviorand audit fees.
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