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Board reforms and audit fees: international evidence

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  • Yuan Huang
  • Xiao Li
  • Zilong Song

Abstract

With a difference-in-differences approach, we find that world-wide reforms result in higher audit fees for reform firms. And this is specially so for reforms involving components of director independence and/or audit committee and auditor independence, adopting the rule-based approach, and implemented in countries with weaker institutional quality. Further analysis reveals that the increase in audit fees is driven by the increase in auditors’ efforts and auditees’ litigation risk, while the improved financial reporting quality has a negative effect on audit fees. Overall, our study examines one compliance cost, as well as its variations, of the board reforms.

Suggested Citation

  • Yuan Huang & Xiao Li & Zilong Song, 2022. "Board reforms and audit fees: international evidence," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 29(5), pages 1227-1246, September.
    • Handle: RePEc:taf:raaexx:v:29:y:2022:i:5:p:1227-1246
    DOI: 10.1080/16081625.2020.1870510
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    Cited by:

    1. Minfeng Yu & Yi Si & Gaoliang Tian & Lei Zhang, 2023. "Climate risk and audit fees: An international study," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(5), pages 4989-5025, December.

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