Audit Fee

Audit Fee

A fee a company pays an external auditor in exchange for performing an audit. Because the Sarbanes-Oxley Act made audits more complex, audit fees have increased significantly in the United States since 2001.
References in periodicals archive ?
The low cost of transportation causes audit fee determinants in Kuwait to differ from other countries.
There is a substantial body of literature that examines the effect of auditee firm-specific characteristics on auditors' judgments in various settings, such as auditors' litigation risk, audit fee pricing, auditee firm's bankruptcy risk and auditors' decision to issue a going concern opinion.
2012) built an analytical audit fee model to analyze the impact on audit fees for the change in both audit complexity and financial reporting quality brought about by IFRS adoption.
First, if there is a link between audit fee and a firm's performance as measured by firm's return on asset and return on equity, then shareholders should notice it.
FERF's Annual Audit Fee survey was highlighted by Compliance Week and other leading publications.
I have data only on the audit fee that a company paid to its newly engaged auditor, but I don't observe the audit fees that the company would have paid to other auditors.
9] In Malaysia found that, the auditor independence has a positive relationship with audit committee meetings, audit committee report along with annual report, the role of audit committee in determination of audit fee and composition of the audit committee.
The authors found that, after controlling for other factors that determine the external audit fee (e.
For example, while the average audit fee for public companies was $3.
Chairman of the Audit Commission Michael O'Higgins said: "This procurement has been the result of a rigorous assessment and will mean significant audit fee savings for local councils, NHS trusts and other local bodies.
In summary, the audit fee ratio (i) increased from non-controversial period to the controversial pre-SOX period, and (ii) decreased from the controversial pre-SOX period to the post-SOX period.
After eliminating firms with missing audit fee data, our sample consisted of 387 companies reporting one or more IT MWs during the period of 2004 through 2009 and receiving an external auditor's adverse opinion on the effectiveness of their internal controls.