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Audit Fees in Malaysia: Does Corporate Governance Matter?

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Author Info

  • Effiezal Aswadi Abdul Wahab

    ()
    (Graduate School of Business, Universiti Sains Malaysia, 11800 USM Pulau Pinang, Malaysia)

  • Mazlina Mat Zain

    (Faculty of Management, Multimedia University, Jalan Multimedia 63100 Cyberjaya, Selangor, Malaysia)

  • Kieran James

    (Graduate School of Business, Universiti Sains Malaysia 11800 USM Pulau Pinang, Malaysia Faculty of Management, Multimedia University, Jalan Multimedia, 63100 Cyberjaya, Selangor, Malaysia)

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    Abstract

    This study examines the relationship between corporate governance and audit fees during the period before and after the enactment of the Malaysian Code of Corporate Governance (MCCG). Our panel analysis of 379 firms during the 1999–2002 period reveals a significant and positive relationship between corporate governance and audit fees. However, the relationship becomes weaker after 2001, suggesting that the MCCG reduced firms' control and inherent risk, thus ultimately contributing to reduced audit effort in Malaysia. Our findings remain viable after we control for political connections unique to Malaysia's capital market.

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    Bibliographic Info

    Article provided by Penerbit Universiti Sains Malaysia in its journal Asian Academy of Management Journal of Accounting and Finance.

    Volume (Year): 7 (2011)
    Issue (Month): 1 ()
    Pages: 1-27

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    Handle: RePEc:usm:journl:aamjaf00701_1-27

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    Web page: http://web.usm.my/aamj/
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    Related research

    Keywords: Corporate governance; audit fees; corporate governance reform; political connection; MCCG;

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