审计委员会成员离公司总部的距离和审计费用

IF 2.8 3区 管理学 Q2 BUSINESS, FINANCE
M. Firoozi, M. Magnan
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引用次数: 3

摘要

目的本研究旨在调查审计委员会成员相对于公司总部的地理位置如何影响审计费用。该论文的动机在于观察到监管和市场趋势对董事会和审计委员会的组成产生了重大影响。为了确保审计委员会发挥其监督作用,法规现在要求董事的独立性和一定程度的财务专业知识。寻找符合这些要求的董事的需要,以及全球化和技术进步的出现,导致公司在寻找董事时扩大了其影响力。设计/方法/方法作者使用了2008年至2017年加拿大公司1517个公司年度的观察样本。这项研究依赖于多变量分析。研究结果表明,在外地审计委员会成员中,外国董事的存在与较高的审计费用有关。相比之下,其他非本地审计委员会成员对审计费用没有差异影响。这种影响在大公司中更为普遍。此外,审计委员会的外国主席以及非会计专家的外国审计委员会成员似乎加剧了审计费用的增加。对这一发现的一种可能解释是,从供应方面来看,审计师将更高的风险分配给外国审计委员会成员比例更高的公司。或者,从需求方面来看,拥有外国审计委员会成员的公司可能会要求更多的审计工作。进一步分析表明,外国审计委员会成员比例越高,重述的可能性越高,这表明审计质量较低。原创性/价值据作者所知,本研究首次记录了审计师对审计委员会成员的位置进行定价,并在计划审计时予以考虑。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Audit committee members’ proximity to corporate headquarters and audit fees
Purpose This study aims to investigate how audit committee members’ geographical location relative to corporate headquarters affects audit fees. The motivation for the paper rests on the observation that regulatory and market trends have significantly affected the composition of boards of directors and audit committees. To ensure that audit committees play their monitoring role, regulations now require directors’ independence and some level of financial expertise. The need to find directors who meet these requirements, as well as the advent of globalization and technological improvements lead firms to expand their reach when looking for directors. Design/methodology/approach The authors use a sample of 1,517 firm-year observations of Canadian firms from 2008 to 2017. The study relies on multivariate analyses. Findings The results show that, among nonlocal audit committee members, the presence of foreign directors is associated with higher audit fees. In contrast, other nonlocal audit committee members do not have a differential impact on audit fees. This effect is more prevalent in large firms. Moreover, having a foreign chair of the audit committee as well as foreign audit committee members who are not accounting experts appear to accentuate the increase in audit fees. A possible explanation for the finding is that, from the supply side, auditors assign a higher risk to firms with a higher percentage of foreign audit committee members. Alternatively, from the demand side, firms with foreign audit committee members may ask for more audit effort. Further analysis indicates that having a higher percentage of foreign audit committee members is associated with a higher likelihood of restatements, an indication of low audit quality. Originality/value To the best of the authors’ knowledge, this study is the first to document that auditors price the location of audit committee members and consider it when planning for their audit.
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来源期刊
CiteScore
5.40
自引率
13.80%
发文量
45
期刊介绍: The key areas addressed are: ■Audit and Assurance (financial and non-financial) ■Financial and Managerial Reporting ■Governance, controls, risks and ethics ■Organizational issues including firm cultures, performance and development In addition, the evaluation of changes occurring in the auditing profession, as well as the broader fields of accounting and assurance, are also explored. Debates concerning organizational performance and professional competence are also covered.
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