As the era evolves, digital transformation is profoundly reshaping the audit industry’s development landscape. “Technology-empowered Auditing” becomes the core driver of audit work in the new era. Intelligent analysis boosts auditing, breaks the shackles of traditional audit models, and enhances audit breadth and depth, safeguarding local economic development. Based on the background of the market-oriented reform of local treasury bond issuance, this paper examines the market economy effect of informatization construction in audit institutions from the perspective of local treasury bond issuance pricing. The study finds that informatization construction in audit institutions can implement “Technology-empowered Auditing”, and lower the pricing of local treasury bond issuance. Mechanism testing indicates that this positive effect is mainly achieved by enhancing the disclosure effect and rectification effect of government audit. Further analysis reveals that when the economic development is slower, the digital government construction is relatively lagging, and the bond type is general bonds, informatization construction in audit institutions has a greater impact on the pricing of local treasury bond issuance. This paper reveals the important role of informatization construction in improving audit efficiency, and provides significant theoretical and empirical support for further advancing “Technology-empowered Auditing”.

Journal of Shanghai University of Finance and Economics
LiuYuanchun, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
GuoChanglin YanJinqiang WangWenbin WuWenfang, Vice Editor-in-Chief
Technology-empowered Auditing: The Market Economy Effect of Informationization Construction in Audit Institutions—Micro Evidence from the Pricing of Local Treasury Bond Issuance
Journal of Shanghai University of Finance and Economics Vol. 27, Issue 03, pp. 109 - 123 (2025) DOI:10.16538/j.cnki.jsufe.2025.03.008
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Wang Yu, Wei Lai, Pan Jun. Technology-empowered Auditing: The Market Economy Effect of Informationization Construction in Audit Institutions—Micro Evidence from the Pricing of Local Treasury Bond Issuance[J]. Journal of Shanghai University of Finance and Economics, 2025, 27(3): 109-123.
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