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Experience of Audit Committee Members and Audit Quality

Author

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  • Nigar Sultana
  • Harjinder Singh
  • Asheq Rahman

Abstract

We investigate whether the experience of audit committee members is associated with audit quality. In order to comprehensively analyse the experience of audit committee members, we include audit committee member tenure, age and multiple-directorships in our analysis. Using observations from 2001 to 2012, we undertake analysis on 13,155 firm-year observations and find that all our proxies of audit committee member experience are positively associated with audit fees. A range of additional tests, including using discretionary accruals as an alternative measure of audit quality and differences-in-differences analysis, support our main findings and our results consequently make a number of contributions to both the literature and policy making. One possible policy contribution is that regulators may wish to consider audit committee characteristics representing experience when framing recommendations to improve audit quality and thereby, financial reporting by firms.

Suggested Citation

  • Nigar Sultana & Harjinder Singh & Asheq Rahman, 2019. "Experience of Audit Committee Members and Audit Quality," European Accounting Review, Taylor & Francis Journals, vol. 28(5), pages 947-975, October.
    • Handle: RePEc:taf:euract:v:28:y:2019:i:5:p:947-975
    DOI: 10.1080/09638180.2019.1569543
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    Citations

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    Cited by:

    1. Alhababsah, Salem & Alhaj-Ismail, Alaa, 2023. "Does shared tenure between audit committee chair and engagement partner affect audit outcomes? Evidence from the UK," The British Accounting Review, Elsevier, vol. 55(2).
    2. George Drogalas & Michail Nerantzidis & Dimitrios Mitskinis & Ioannis Tampakoudis, 2021. "The relationship between audit fees and audit committee characteristics: evidence from the Athens Stock Exchange," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 18(1), pages 24-41, March.
    3. Hidaya Lawati & Khaled Hussainey & Roza Sagitova, 2021. "Disclosure quality vis-à-vis disclosure quantity: Does audit committee matter in Omani financial institutions?," Review of Quantitative Finance and Accounting, Springer, vol. 57(2), pages 557-594, August.
    4. Masoud Azizkhani & Sarowar Hossain & Mai Nguyen, 2023. "Effects of audit committee chair characteristics on auditor choice, audit fee and audit quality," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(3), pages 3675-3707, September.
    5. Badar Alshabibi & Shanmuga Pria & Khaled Hussainey, 2021. "Audit Committees and COVID-19-Related Disclosure Tone: Evidence from Oman," JRFM, MDPI, vol. 14(12), pages 1-17, December.
    6. Bushra Komal & Bilal & Ernest Ezeani & Asim Shahzad & Muhammad Usman & Juncheng Sun, 2023. "Age diversity of audit committee financial experts, ownership structure and earnings management: Evidence from China," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 2664-2682, July.
    7. Hidaya Al Lawati & Khaled Hussainey, 2021. "Do Overlapped Audit Committee Directors Affect Tax Avoidance?," JRFM, MDPI, vol. 14(10), pages 1-14, October.
    8. Ghafran, Chaudhry & O'Sullivan, Noel & Yasmin, Sofia, 2022. "When does audit committee busyness influence earnings management in the UK? Evidence on the role of the financial crisis and company size," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 47(C).
    9. Alhababsah, Salem & Yekini, Sina, 2021. "Audit committee and audit quality: An empirical analysis considering industry expertise, legal expertise and gender diversity," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 42(C).

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