Exact(30)
Our results show significantly higher audit fees and significantly less timely audits in the year following rotation.
Second, we found that non-Big Four firms are particularly affected, performing less timely audits and passing on rotation costs to their clients through significantly higher audit fees.
As a result, companies have asked their auditors to do more work and are likely to go along with higher audit fees, auditing specialists say.
And without funding from higher audit fees, the profession will continue to fail to attract the kind of talented professionals who can judge businesses on the basis of economic reality rather than on narrow accounting rules.
As noted, we find consistently higher audit fees and less timely audits with each successive partner rotation, even as client engagement with the same audit firm office remains uninterrupted.
In contrast, Big Four firms perform less timely audits of their larger clients but seem to absorb additional rotation costs rather than pass them on to clients in the form of higher audit fees.
Similar(30)
Although higher auditing fees are a concern to some finance directors, it is the combination of auditing and consulting that clients and financial regulators most dislike.
Higher AUDIT-C scores were associated with increased likelihood of risk-reduction counseling.
We also found a consistently higher AUDIT-C score across our models for those with a higher work load which might contribute further to undesirable health effects.
Steven B. Harris, a member of the oversight board, said the proposals might "improve communication of areas of high audit risk".
L. monocytogenes frequency was high, being related to industries that obtained high audit scores with a satisfactory level of GHMP implementation.
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