International Regulatory Revelations of the Shadow Banking

In recent years, the scale of shadow banking in China expands rapidly, which has great impact on the traditional commercial banks and the national economy. This also attracts attentions of policymakers and academic researchers. This paper discusses concept of shadow banking and, summarizes the main classification, composition and risks of shadow banking. Then, the paper compares regulations of shadow banking in the United States, Britain and European Union. Finally proposes some enlightenment from the shadow banking international regulatory practice. variables such as the auditor tenure effects and auditee risk which have been found to have an inconclusive relationship with the amount of external audit fees in prior studies. However, the auditee size seems to have been the key determinant of external audit fees. Furthermore, financial risk is found to be negatively and significantly associated with the level of external audit fees. On other side, empirical results found that the audit tenure has no significant relationship with audit fees. Finally, the current study is unique because it is the first to empirically examine factors impacting the level of audit fees in Jordan for a total of three years; it revisits the audit fee literature and highlights the important determinants that affect audit fees. Â