This study evaluates the value of mandatory financial audits by introducing a novel measure of audit impact-the difference in Financial Statement Divergence (FSD) scores, based on Benford's Law, between unaudited quarterly and audited annual financial reports. Using data from firms listed on the Taiwan Stock Exchange and Taipei Exchange, we find that partner-level, rather than firm-level, audit attributes are significantly associated with the magnitude of audit impact. We also document a positive relationship between changes in audit impact and changes in audit fees, suggesting that the audit clients are willing to pay more for greater audit assurance. These findings offer new insights into the role played by and the pricing of mandatory financial audits.