The relationship between audit committee characteristics and abnormal audit fees with an emphasis on agency costs
Younes Badavar Nahandi
1
(
Associate Professor, Department of Accounting, Ta.C., Islamic Azad University, Tabriz, Iran.
)
Sevda Abdollahi
2
(
Master of Accounting, Higher Education Institution of Mizan, Tabriz, Iran
)
Keywords: Abnormal audit fees, agency costs, audit committee characteristics,
Abstract :
Purpose: Audit committee arrangements played an important part in monitoring the financial reporting process, especially after financial scandals in large companies. The audit committee was also responsible for overseeing the work of auditors, the scope of audits, and oversight of auditors' fee setting. The study examined the relationship between audit committee characteristics and abnormal audit fees by considering moderating role of agency costs.
Methodology: The research was correlational and descriptive, and the statistical population included companies listed on the Tehran Stock Exchange between 2013 and 2022. The records of 128 listed companies were selected and analyzed.
Findings: The research findings indicate that the size of the audit committee, financial expertise, and the independence of the members have an inverse relationship with abnormal audit fees. In addition, the findings reveal a positive relationship between agency costs and abnormal audit fees. Further, as agency costs increase, the negative relationship between the size of the audit committee, its independence, the financial expertise of the members, and abnormal audit fees is strengthened.
Originality: The audit committee quality, as far as the number of members, financial expertise, and independence of members, helps determine suitable and reasonable audit fees and reduces the adverse effect of paying fees that are too low or too high relative to the scope of audit work. The significance of the issue is much more important when there are agency conflicts in companies.
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