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Auditing (A307)


audit fees; financial reporting risk; audit risk; Sarbanes-Oxley.


  1. Shannon L. Charles
  2. Steven M. Glover
  3. Nathan Y. Sharp




    study investigates whether the association between financial reporting risk and
    audit fees changed during 2000–2003: a time period marked by momentous and
    historic events for auditors. We find a positive statistically and economically
    significant relationship between financial reporting risk and audit fees paid
    to Big 4 auditors. More importantly, we predict and find that the relation
    between financial reporting risk and audit fees strengthened significantly in
    2002 and 2003, consistent with a shift in the way auditors priced risk, likely
    in response to the events surrounding the Sarbanes-Oxley Act of 2002. Finally,
    we provide evidence that a commercially developed, comprehensive risk measure
    effectively proxies for an element of risk beyond what has traditionally been
    captured by various risk measures in audit fee models: namely, the risk that
    financial statements have been intentionally misstated. We believe this risk
    measure will be of interest to future researchers.





    Vol 29, Nomor 01 CD, Tahun 2010


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