新审计报告准则在一级市场上抑制IPO公司盈余管理行为、从源头上提高IPO公司信息披露水平发挥着十分重要的作用，本文以2018-2021年上市的沪深A股IPO公司为研究对象，通过实证研究考察了IPO关键审计事项与盈余管理的关系。其次，深入探讨了IPO关键审计事项的文本特征以及披露类型对盈余管理的影响。研究结果表明，IPO关键审计事项披露能显著降低盈余管理程度，并且审计质量越高，关键审计事项对IPO公司盈余管理行为的约束作用越强；进一步分析发现，关键审计事项语气越积极、专业术语密度越低以及采用表格的披露形式均能显著抑制IPO公司的盈余管理行为；并且披露收入确认类事项也可以有效降低盈余管理程度。研究结论丰富了IPO关键审计事项的研究成果，为防范IPO企业财务舞弊行为以及规范其信息披露行为、健全资本市场信息披露制度和独立审计制度、维护市场健康稳定运行提供了参考依据。

The new auditing report standard plays a very important role in inhibiting the earnings management behavior of IPO enterprises in the primary market and improving the disclosure level of IPO enterprises from the source, this paper takes 525 A-share IPO companies listed from 2018-2021 as the research objects and empirically studies the relationship between IPO key audit matters and earnings management. Besides, the textual characteristics of IPO key audit matters and the impact of disclosure types on earnings management are discussed in depth. The findings show that the disclosure of IPO key audit matters can significantly reduce the degree of earnings management, and the higher the audit quality, the stronger the constraints of key audit matters on the earnings management behavior of IPO companies; further analysis reveals that the more positive tone of key audit matters, the lower density of jargon, and the use of the disclosure form of the table can significantly inhibit the earnings management behavior of the IPO companies; and the disclosure of revenue Further analysis reveals that the more positive tone of key audit issues and the lower density of jargon and the use of tabular disclosure can significantly inhibit the earnings management behavior of IPO companies; and the disclosure of income recognition can also effectively reduce the degree of earnings management. The findings of the study enrich the research results on key audit matters of IPOs, and provide a reference basis for preventing financial fraud of IPO companies and regulating their information disclosure behavior, improving the information disclosure system and independent auditing system of the capital market, and maintaining the healthy and stable operation of the market.