Audit Risk Management and Audit Effort in Small and Medium Audit Firms

  1. Ruiz-Barbadillo, Emiliano 1
  2. Martinez Conesa, Isabel 2
  3. Serrano-Madrid, José 2
  4. Brown-Liburd, Helen 3
  1. 1 University of Cadiz, Cadiz-SPAIN
  2. 2 University of Murcia, Murcia-SPAIN
  3. 3 The State University of New Jersey, New Jersey-USA
Mostrar afiliaciones +
Revista:
Revista de contabilidad = Spanish accounting review: [RC-SAR]

ISSN: 1138-4891

Año de publicación: 2024

Volumen: 27

Número: 2

Páginas: 212-228

Tipo: Artículo

DOI: 10.6018/RCSAR.462211 DIALNET GOOGLE SCHOLAR lock_openDIGITUM editor

Otras publicaciones en: Revista de contabilidad = Spanish accounting review: [RC-SAR]

Resumen

El objetivo de este trabajo es analizar las decisiones de planificación de la auditoría de las pequeñas y medianas firmas de auditoría españolas en relación a la evaluación del riesgo y el esfuerzo de auditoría. Las investigaciones previas se centran casi en exclusiva en las 4 firmas de auditoría grandes y poco se sabe sobre cómo las decisiones de planificación de la auditoría influyen en el riesgo de auditoría en las firmas más pequeñas, una parte muy significativa de la profesión auditora. Por lo tanto, es importante examinar los juicios de planificación en firmas de auditoría pequeñas y medianas y el vínculo entre las evaluaciones de riesgo de planificación y el grado de esfuerzo realizado para lograr un nivel aceptable de riesgo de auditoría. Usando datos derivados de bases de datos disponibles públicamente y datos obtenidos a través de encuestas, este estudio investiga los factores que explican la evaluación del riesgo de error material del cliente y si el esfuerzo aplicado en el desempeño del trabajo de auditoría responde efectivamente a ese riesgo. Encontramos una relación estadística significativa entre el riesgo de auditoría y el esfuerzo de auditoría, lo que proporciona evidencia empírica de que los auditores modifican el alcance del esfuerzo de auditoría en función del riesgo de auditoría percibido y pone en debate el trabajo de las pequeñas empresas. El análisis adicional muestra que el esfuerzo de la auditoría, medido a través de las horas, está significativamente influenciado por la antigüedad del encargo y el momento del trabajo de auditoría (es decir, la temporada alta de auditoría). Sin embargo, los trabajos de auditoría con una antigüedad más larga no ajustan su esfuerzo de auditoría en respuesta a una baja integridad de la administración o controles internos débiles, lo que sugiere familiaridad, esto es, los auditores pueden no ser tan escépticos con respecto a los incentivos de la administración. Este articulo contribuye al debate sobre la calidad de la auditoría y si el tamaño de las firmas de auditoría sirve como una característica observable asociada con una mayor calidad de la auditoría.

Referencias bibliográficas

  • Aobdia, D. (2019). Do practitioner assessments agree with academic proxies for audit quality? Evidence from PCAOB and internal inspections. Journal of Accounting and Economics, 67, 144-174. https://doi.org/10.1016/j.jacceco.2018.09.001
  • Arellano, M., & Bond, S. (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations. The Review of Economic Studies, 58(2), 277–297. https://doi.org/10.2307/2297968
  • Arruñada, B., and C. Paz-Ares. (1997). Mandatory rotation of company auditors: A critical examination. International Review of Law and Economics 17(1): 31-61.
  • Arruñada, B. (1999). The provision of non-audit services by auditors: Let the market evolve and decide. International Review of Law and Economics, 19 (4), 513-531. http://dx.doi.org/10.2139/ssrn.224744
  • Asthana, S. C., and J. P. Boone. (2012). Abnormal audit fee and audit quality. Auditing: AJournal of Practice & Theory 31(3): 1-22.
  • Ayers, S., & Kaplan, S. (1998). Potential differences between engagement and risk review partners and their effect on client acceptance judgments. Accounting Horizons, 12(2), 139-153. Available at SSRN: https://ssrn.com/abstract=108708
  • Beck, P., T. J. Frecka, and I. Solomon. (1988a). A model of the market for MAS and audit services: Knowledge spillovers and auditor-auditee bonding. Journal of Accounting Literature 7: 50-64.
  • Beck, P.J., & Wu, M.G.H., (2006). Learning by doing and audit quality. Contemporary Accounting Research, 23(1), 1-30. https://doi.org/10.1506/AXU4-Q7Q9-3YAB-4QE0
  • Bedard, J. C., and K. M. Johnstone. (2004). Earnings manipulation risk, corporate governance risk, and auditors’ planning and pricing decisions. The Accounting Review 79 (2): 277–304
  • Bedard, J. C., Deis, D. R., Curtis, M. B., & Jenkins, J. G. (2008). Risk monitoring and control in audit firms: A research synthesis. Auditing: A Journal of Practice & Theory, 27(1), 187–218.
  • Bedard, J.C. (1989a). An archival survey of audit program planning. Auditing: A Journal of Practice and Theory, 9(fall), 81-102.
  • Bedard, J.C. (1989b). Archival investigation of audit program planning. Auditing: A Journal of Practice and Theory, 9(1), 57-71.
  • Bell, T. B., Landsman, W. R., & Shackelford, D. A. (2001). Auditors’ Perceived Business Risk and Audit Fees: Analysis and Evidence. Journal of Accounting Research, 39(1), 35–43. http://www.jstor.org/stable/2672944
  • Bell, T. B., Peecher, M. E., & Solomon, I. (2005). The 21st Century Public Company Audit: Conceptual Elements of KPMG's Global Audit Methodology. KPMG International.
  • Bell, T.B., Bedard, J.C., Johnstone, K.M., & Smith, E. F. (2002). Krisk: A computerized decision aid for client acceptance and continuance risk assessments. Auditing: A Journal of Practice and Theory, 21 (2), 97-113. https://doi.org/10.2308/aud.2002.21.2.97
  • Bell, T.B., Doogar, R., & Salomon, I. (2008). Audit labor Usage and Fees under Business Risk Auditing. Journal of Accounting Research, 46(4), 729-760. https://www.jstor.org/stable/40058105
  • Bell, T.B., Landsman, W.R., & Willimgham, J. (1994). An exploratory analysis of the determinants of audit engagement resource allocations. Proceedings of Deloitte and Touche/University of Kansas Symposium on Auditing Problems. Lawrence, KS, 49-67. Available at https://egrove.olemiss.edu/cgi/viewcontent.cgi?article=1051&context=dl_proceedings
  • Biedma López, E., Ruiz Barbadillo, E., & Guiral Contreras, A. (2018). Análisis empírico del efecto de las rentas económicas en el comportamiento independiente del auditor. Revista Española de Financiación y Contabilidad, 47 (3), pp. 366-399. https://doi.org/10.1080/02102412.2017.1387441
  • Biggs, S. F., Mock, T. J., & Watkins, P. R. (1988). Auditor’s Use of Analytical Review in Audit Program Design. The Accounting Review, 63(1), 148–161. http://www.jstor.org/stable/247685
  • Blokdijk, H., Drieenhuizen, F, Simunic, D. A., & SteinDri, M. T. (2006). An Analysis of Cross-Sectional Differences in Big and Non-Big Public Accounting Firms’ Audit Programs. Auditing: A Journal of Practice and Theory, 25(1), 27-48. https://doi.org/10.2308/aud.2006.25.1.27
  • Boone, J. P., Khurana, I. K., & Raman, K. K. (2010). Do the Big 4 and the second-tier firms provide audits of similar quality? Journal of Accounting and Public Policy, 29(4), 330– 352. https://doi.org/10.1016/j.jaccpubpol.2010.06.007
  • Cabal-García, E., De-Andrés-Suarez, J., & Fernández-Méndez, C. (2019). Analysis of the effects of changes in Spanish auditing regulation on audit quality and its differential effect depending on the type of auditor. Revista de Contabilidad-Spanish Accounting Review, 22 (2), 171-186. https://doi.org/10.6018/rcsar.382241
  • Carcello, J. V., Hermanson, D. R., Neal, T. L., & Riley R. R. (2002). Board characteristics and audit fees. Contemporary Accounting Research, 19(3), 365–384. https://doi.org/10.1506/CHWK-GMQ0-MLKE-K03V
  • Carcello, J., & Nagy, A. (2004). Audit firm tenure and fraudulent financial reporting. Auditing: A Journal of Practice and Theory, 23 (2), 55–69. https://doi.org/10.2308/aud.2004.23.2.55
  • Carmona Ibáñez, P., & Momparler Pechuán, A. (2011). La prestación de servicios de consultoría por los auditores y la manipulación del resultado: estudio de la independencia del auditor en un país de la UE. Revista Española de Financiación y Contabilidad, 40(152), 587-612. https://www.jstor.org/stable/i40105698
  • Cassell, C.A., Giroux, G., Myers, L.A., & Omer, T.C. (2013). The Emergence of Second-Tier Auditors in the US: Evidence from Investor Perceptions of Financial Reporting Credibility. Journal of Business Finance and Accounting, 40(3-4), 350–372. https://doi.org/10.1111/jbfa.12016
  • Chang, H., Agnes Cheng, C. S., & Reichelt, K. J. (2010). Market Reaction to Auditor Switching from Big 4 to Third-Tier Small Accounting Firms. Auditing: A Journal of Practice & Theory, 29 (2), 83–114. https://doi.org/10.2308/aud.2010.29.2.83
  • Chewning, G., Pany, K., & Wheeler, S. (1989). Auditor Reporting Decisions Involving Accounting Principle Changes: Some Evidence on Materiality Thresholds. Journal of Accounting Research, 27(1), 78–96. https://doi.org/10.2307/2491208
  • Chi, W. and H, Huang. (2004). Discretionary accruals, audit-firm tenure and audit partner tenure: Empirical evidence from taiwan. Journal of Contemporary Accounting & Economics 1(1): 65-92.
  • Choi, J-H., Kim, J-B., & Zang, Y. (2010). Do Abnormally High Audit Fees Impair Audit Quality? Auditing: A Journal of Practice & Theory, 29(2), 115–140. https://doi.org/10.2308/aud.2010.29.2.115
  • Choi, J., & Wong, T.J. (2007). Auditors’ governance functions and legal environments: an international investigation. Contemporary Accounting Research, 24(1), 13-46. https://doi.org/10.1506/X478-1075-4PW5-1501
  • Colbert, G., & Murray, D. (1998). The Association between Auditor Quality and Auditor Size: An Analysis of Small CPA Firms. Journal of Accounting, Auditing & Finance, 13(2), 135-150. https://doi.org/10.1177/0148558X9801300203
  • Comprix, J., & Huang, H. (2015). Does auditor size matter? Evidence from small audit firms. Advances in International Accounting, 31(1), 11–20. https://doi.org/10.1016/j.adiac.2015.03.007
  • Costigan, M. L., and D. T. Simon. (1995). Auditor materiality judgment and consistency modifications: further evidence from SFAS 96. Advances in Accounting 13: 207-222.
  • Cullinan, C.O., Du, H., & Zheng, X. (2012). Barriers to entry to the big firms audit market: Evidence from market reaction to switches to second tier audit firms in the post-sox period. Research in Accounting Regulation, 24, 6-14. https://doi.org/10.1016/j.racreg.2011.12.002
  • Davidson, R., & Gist, W. (1996). Empirical evidence on the functional relation between audit planning and total audit effort. Journal of Accounting Research, 34 (1), 111-124. https://doi.org/10.2307/2491334
  • Davis, L. R., Ricchiute, D. N., & Trompeter, G. (1993). Audit Effort, Audit Fees, and the Provision of Nonaudit Services to Audit Clients. The Accounting Review, 68(1), 135–150. http://www.jstor.org/stable/248370
  • De Fuentes, C., Illueca, M. & Pucheta-Martinez, M.C. (2015). External investigations and disciplinary sanctions against auditors: the impact on audit quality. SERIEs 6, 313–347. https://doi.org/10.1007/s13209-015-0127-0
  • De las Heras, E., Cañibano, C., & Moreira, J.A. (2012). The impact of the Spanish Financial Act (44/2002) on audit quality. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 41(156), 521-546. https://doi.org/10.1080/02102412.2012.10779734
  • DeAngelo, L.E. (1981) Auditor Size and Audit Quality. Journal of Accounting and Economics, 3, 183-199. http://dx.doi.org/10.1016/0165-4101(81)90002-1
  • DeFond, M. and Zhang, J. (2014) A Review of Archival Auditing Research. Journal of Accounting and Economics, 58, 275-326. https://doi.org/10.1016/j.jacceco.2014.09.002
  • DeFond, M.L., & Jiambalvo, J. (1993). Factors related to auditor-client disagreements over income-increasing accounting methods. Contemporary Accounting Research, 9, 415-431. https://doi.org/10.1111/j.1911-3846.1993.tb00889.x
  • DeFond, M.L., & Lennox, C. S. (2011). The effect of SOX on small auditor exits and audit quality. Journal of Accounting and Economics, 52(1), 21-40. https://doi.org/10.1016/j.jacceco.2011.03.002
  • Defond, M.L., Raghunandan, K., & Subramanyam, K. R. (2002). Do Non-Audit Service Fees Impair Auditor Independence? Evidence from Going Concern Audit Opinions. Journal of Accounting Research, 40(4), 1247–1274. http://www.jstor.org/stable/3542312
  • Deis, D. R. Jr., & Giroux, G. A. (1992). Determinants of Audit Quality in the Public Sector. The Accounting Review, 67(3), 462–479. http://www.jstor.org/stable/247972
  • Dipietro, J., Mock, T., & Wright, A. (1994). An investigation of adaptability in evidential planning. Proceedings of Symposium on Auditing Problems XII. Lawrences, KS: University of Kansas.
  • Doving, E., & Gooderhan, P.N. (2008). Dynamic Capabilities as Antecedents of The Scope of Related Diversification: The Case of Small Firm Accountancy Practices. Strategic Management Journal, 29(8), 841–857. https://doi.org/10.1002/smj.683
  • Dye, R. (1993). Auditing standards, legal liability, and auditor wealth.Journal of Political Economy101 (5):887–914.
  • Eilifsen, A., & Willekens, M. (2008). In the name of trust: Some thoughts about trust, audit quality and audit regulation in Europe. In Quick, R., Turley, S., & Willekens, M. (Eds.), Auditing, Trust and Governance: Developing Regulation in Europe (pp. 1–18). London: Routledge.
  • Epps, K. K., & Messier, W. F. Jr. (2007). Engagement quality reviews: A comparison of audit firm practices. Auditing: A Journal of Practice and Theory, 26(2), 167-181. https://doi.org/10.2308/aud.2007.26.2.167
  • European Commission. (2010). Audit Policy: Lessons from the crisis. http://ec.europa.eu/internal_market/consultations/docs/2010/audit/green_paper_audit_en.pdf
  • Feldmann D.A., & Read, W. J. (2010). Auditor Conservatism after Enron. Auditing: A Journal of Practice &Theory, 29 (1), 267–278. https://doi.org/10.2308/aud.2010.29.1.267
  • Ferguson, A., Francis, J. R., & Stokes, D. J. (2003). The Effects of Firm-Wide and Office-Level Industry Expertise on Audit Pricing. The Accounting Review, 78(2), 429–448. http://www.jstor.org/stable/3203260
  • Francis, J. R., & Simon, D. T. (1987). A Test of Audit Pricing in the Small-Client Segment of the U. S. Audit Market. The Accounting Review, 62(1), 145–157. http://www.jstor.org/stable/248051
  • Francis, J., I. Khurana, and R. Pereira. 2003. The role of accounting and auditing in corporate governance and the development of financial markets around the world. Asia-Pacific Journal of Accounting & Economics, 10(1), 1-30. https://doi.org/10.1080/16081625.2003.10510613
  • Francis, J., Richelt, K., & Wang, D. (2005). The Pricing of National and City-Specific Reputations for Industry Expertise in the U.S. Audit Market. The Accounting Review, 80(1), 113–136. http://www.jstor.org/stable/4093163
  • Frishkoff, P. (1970). An Empirical Investigation of the Concept of Materiality in Accounting. Journal of Accounting Research, 8, 116–129. https://doi.org/10.2307/2674697
  • Geiger, M., & Rama, D. V. (2006). Audit firm size and going-concern reporting accuracy. Accounting Horizons, 20 (1), 1–17. https://doi.org/10.2308/acch.2006.20.1.1
  • Geiger, M., Raghunandan, K., & Rama, D. V. (2005). Recent Changes in the Association between Bankruptcies and Prior Audit Opinions. Auditing: A Journal of Practice & Theory, 24 (1), 21–35. https://doi.org/10.2308/aud.2005.24.1.21
  • Ghosh, A., & Lustgarten, S. (2006). Pricing of Initial Audit Engagements by Large and Small Audit Firms. Contemporary Accounting Research, 23(2), 333–368. https://doi.org/10.1506/927U-JGJY-35TA-7NT1
  • Gonzalo Angulo, J.A., & Garvey, A.M. (2018). Audit research: some reflections. Revista de Contabilidad - Spanish Accounting Review, 21(2), 107–115. https://doi.org/10.1016/j.rcsar.2018.05.004
  • Government Accountability Office (GAO). (2008). Audits of Public Companies: Continued Concentration in Audit Market for Large Public Companies Does Not Call for Immediate Action. Washington DC: GAO
  • Gujarati, D.N. (1997). Econometría básica. Santafé de Bogotá, Colombia: Ed. McGraw-Hill.
  • Gul, F.A., Jaggi, B.L., & Krishnan, G.V. (2007). Auditor independence: evidence on the joint effects of auditor tenure and nonaudit fees. Auditing: A Journal of Practice & Theory, 26 (2), 117–142. https://doi.org/10.2308/aud.2007.26.2.117
  • Gómez Aguilar, N., Biedma López, E., & Ruíz Barbadillo, E. (2018). El efecto de la rotación de socio en la calidad de la auditoría. Revista de Contabilidad-Spanish Accounting Review, 21(1), 7–18. https://doi.org/10.1016/j.rcsar.2017.03.001
  • Hackenbrack, K., & Knechel, W.R. (1997). Resource allocation decisions in audit engagements. Contemporary Accounting Research, 14(3), 481-499. https://doi.org/10.1111/j.1911-3846.1997.tb00537.x
  • Hall, W., & Renner, A. (1988). Lessons that auditors ignore at their own risk. Journal of Accountancy, 166 (July), 50-58.
  • Hogan, C., & Wilkins, M. (2008). Evidence on the Audit Risk Model: Do Auditors Increase Audit Effort in the Presence of Internal Control Deficiencies? Contemporary Accounting Research, 25(1), 219-242. https://doi.org/10.1506/car.25.1.9
  • Hogan, CE., & Martin, RD. (2009). Risk Shifts in the Market for Audits: An Examination of Changes in Risk for ‘‘Second Tier’’ Audit Firms”. Auditing: A Journal of Practice and Theory, 28(2), 93–118. https://doi.org/10.2308/aud.2009.28.2.93
  • Hoitash, R., Markelevich, A., & Barragato, C. A. (2007). Auditor fees and audit quality. Managerial Auditing Journal, 22(8), 761-786. https://doi.org/10.1108/02686900710819634
  • Houston, R., Peters, M., & Pratt, J. (1999). The audit risk model, business risk and audit-planning decisions. The Accounting Review, 74(3), 281-298. http://www.jstor.org/stable/248489
  • Hoyle, J. (1978). Mandatory auditor rotation: The arguments and an alternative. Journal of Accountancy 145: 69.
  • Joe, J.R. (2003). Why press coverage of a client influences the audit opinion. Journal of Accounting Research, 41(1), pp.109-133. http://www.jstor.org/stable/3542247
  • Johnson, W. B., and T. Lys. (1990). The market for audit services: Evidence from voluntary auditor changes. Journal of Accounting and Economics 12(1-3): 281-308.
  • Johnson, V., Khurana, I., & Reynolds, J. (2002). Audit-firm tenure and the quality of financial reports. Contemporary Accounting Research 19(4), 637–660. https://doi.org/10.1506/LLTH-JXQV-8CEW-8MXD
  • Johnstone, K. M., and J. C. Bedard. (2004). Audit firm portfolio management decisions. Journal of Accounting Research 42(4): 659-690.
  • Johnstone, K., and Bedard, J. (2001). Engagement planning, bid pricing, and client response in the market for initial attest engagements. The Accounting Review, 76(2), 199-220. http://www.jstor.org/stable/3068912
  • Kizirian, T.G., Mayhew, B.W., & Sneathen Jr, L.D. (2005). The impact of management integrity on audit planning and evidence. Auditing: A Journal of Practice and Theory, 24(2), pp.49-67. https://doi.org/10.2308/aud.2005.24.2.49
  • Kreutzfeldt, R. W., and W. A. Wallace. (1986). Error characteristics in audit populations their profile and relationship to environmental-factors. Auditing: A Journal of Practice & Theory 6(1): 20-43.
  • Krishnan, J., and P. C. Schauer. (2000). The differentiation of quality among auditors: Evidence from the not-for-profit sector. Auditing: A Journal of Practice & Theory 19(2): 9-25.
  • La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (1999). Corporate Ownership around the World. Journal of Finance, 2, 471-517. http://www.jstor.org/stable/2697717
  • Lai, k. (2013). Audit Reporting of Big 4 Versus Non-Big 4 Auditors: The Case of Ex-Andersen Clients. The International Journal of Accounting ,48, 495-524.
  • Lemon, W.M., Tatum, K.W., & Turley, W.S. (2000). Developments in the Audit Methodologies of Large Accounting Firms. Caxton Hill, Hertford, UK: APB, Stephen Austin & Sons Ltd.
  • Lennox, C. S. (1999). Audit quality and auditor size: An evaluation of reputation and deep pockets hypotheses. Journal of Business Finance & Accounting 26(7‐8): 779-805.
  • Li, C. (2009). Does Client Importance Affect Auditor Independence at the Office Level? Empirical Evidence from Going-Concern Opinions. Contemporary Accounting Research, 26, 201–230. https://doi.org/10.1506/car.26.1.7
  • Libby, R., Artman, J. T., & Willingham, J. J. (1985). Process Susceptibility, Control Risk, and Audit Planning. The Accounting Review, 60(2), 212–230. http://www.jstor.org/stable/246787
  • Louis, H. (2005). Acquirers’ abnormal returns and the non-Big 4 auditor clientele effect. Journal of Accounting and Economics, 40, (1–3), 75–99. https://doi.org/10.1016/j.jacceco.2005.03.001
  • Maletta, M. J., & Kida, T. (1993). The Effect of Risk Factors on Auditors’ Configural Information Processing. The Accounting Review, 68(3), 681–691. http://www.jstor.org/stable/248209
  • Messier Jr, W. F., J. K. Reynolds, C. A. Simon, and D. A. Wood. (2011). The effect of using the internal audit function as a management training ground on the external auditor's reliance decision. The Accounting Review 86(6): 2131-2154.
  • Messier, W. F. (1983). The Effect of Experience and Firm Type on Materiality/Disclosure Judgments. Journal of Accounting Research, 21(2), 611–618. https://doi.org/10.2307/2490795
  • Mock, T. J., & Wright, A. (1993). An exploratory study of auditors' evidential planning judgments. Auditing, 12(2), 39-61.
  • Mock, T.J., & Wright, A. (1999). Are audit program plans risk-adjusted? Auditing: A Journal of Practice and Theory, 18(1), 55-74. https://doi.org/10.2308/aud.1999.18.1.55
  • Monterrey Mayoral J., & Sánchez Segura, A. (2007). Un estudio empírico de los honorarios del auditor. Cuadernos de Economía y Dirección de la Empresa, 32 (septiembre), 81-110.
  • Navarro García, J.C., & Martínez Conesa, I. (2004). Manipulación contable y calidad del auditor. Un estudio empírico de la realidad española/Earnings management and audit quality in Spain: an empirical study. Revista Española de Financiación y Contabilidad, 33(123), 1025–1061. http://www.jstor.org/stable/42781593
  • Nichols, D. R., and D. B. Smith. (1983). Auditor credibility and auditor changes. Journal of Accounting Research 21(2): 534-544.
  • Niemi, L. (2004). Auditor Size and Audit Pricing: Evidence from Small Audit Firms. European Accounting Review, 13(3), 541-560. https://doi.org/10.1080/0963818042000237151
  • Niemi, L. (2005). Audit effort and fees under concentrated client ownership: Evidence from four international audit firms. The International Journal of Accounting, 40(4), 303-323. https://doi.org/10.1016/j.intacc.2005.09.006
  • Nogler, G. E. (2008). Going-concern modifications, CPA firm size, and the Enron effect. Managerial Auditing Journal, 23 (1), 51–67. https://doi.org/10.1108/02686900810838164
  • Numan, W., & Willekens, M. (2012). An empirical test of spatial competition in the audit market. Journal of Accounting and Economics, 53(1), 450-465. https://doi.org/10.1016/j.jacceco.2011.10.002
  • O'Keefe, T., Simunic D., & Stein, M. (1994). The production of audit. Services: evidence from a major public accounting firm. Journal of Accounting Research, 32(2), 241-261.
  • Palazuelos Cobo, E., Montoya del Corte, J., & Herrero Crespo, A. (2017). Determinantes de la continuidad en la contratación de la auditoría de forma voluntaria: evidencia para el caso de España. Revista de Contabilidad-Spanish Accounting Review, 20 (1), 63-72. https://doi.org/10.1016/j.rcsar.2016.06.001
  • Palmrose, Z. (1983). The Pricing of Audit Services: Industry Differences and Other Insights. Proceedings of the 1983 DePaul University Research Symposium, 47-84.
  • Palmrose, Z. (1989). The Relation of Audit Contract Type to Audit Fees and Hours. The Accounting Review, 64 (3), 488-499. http://www.jstor.org/stable/247601
  • Palmrose, Z. V. (1986). Audit fees and auditor size: Further evidence. Journal of Accounting Research 24(1): 97-110.
  • Peel, M.J., & Roberts, R. (2003). Audit fee determinants and auditor premiums: evidence from the micro-firm sub-market. Accounting and Business Research, 33(3), 207-233. https://doi.org/10.1080/00014788.2003.9729647
  • Pratt, J., and J. D. Stice. (1994). The effects of client characteristics on auditor litigation risk judgments, required audit evidence, and recommended audit fees. The Accounting Review 69: 639-656.
  • Prawitt, D. F., N. Y. Sharp, and D. A. Wood. (2011). Reconciling archival and experimental research: Does internal audit contribution affect the external audit fee? Behavioral Research in Accounting 23(2): 187-206.
  • Quadackers, L., Mock, T., & Maijoor, S. (1996). Audit risk and audit programs: Archival evidence from four Dutch audit firms. European Accounting Review, 5 (2), 217-237. https://doi.org/10.1080/09638189600000014
  • Raghunandan, K., & Rama, D. V. (2006). SOX Section 404 material weakness disclosures and audit fees. Auditing: A Journal of Practice and Theory, 25(1), 99-114. https://doi.org/10.2308/aud.2006.25.1.99
  • Read, W.J., D. V. Rama, and K. Raghunandan. (2004). Regional and local audit firms and the market for SEC audits. Accounting Horizons 18 (4): 241–254.
  • Reichelt, KJ., & Wang, D. (2010). National and Office-Specific Measures of Auditor Industry Expertise and Effects on Audit Quality. Journal of Accounting Research, 48(3), 647-686. https://doi.org/10.1111/j.1475-679X.2009.00363.x
  • Reynolds, J. K., and J. R. Francis. (2001). Does size matter? The influence of large clients on office-level auditor reporting decisions. Journal of Accounting and Economics 30(3): 375-400.
  • Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. The Stata Journal, 9(1), 86-136.
  • Ruiz Barbadillo, E. (2016). Regulación frente a reputación como medio de salvaguardar la independencia de la auditoría. Revista de Contabilidad y Tributación, 401–402, 161–198.
  • Ruiz Barbadillo, E., Humphrey, C., & García-Benau, M. A. (2000). Auditors versus third parties and others: The unusual case of the Spanish audit liability ‘crisis’. Accounting History, 5 (2), 119-146. https://doi.org/10.1177/103237320000500206
  • Schwartz, K.B., & Soo, B.S. (1996). The association between auditor changes and reporting lags. Contemporary Accounting Research, 13(1), 353-370. https://doi.org/10.1111/j.1911-3846.1996.tb00505.x
  • Sierra-García, L., E. R. Barbadillo, and M. O. Pérez. (2012). Audit committee and internal audit and the quality of earnings: empirical evidence from Spanish companies. Journal of Management & Governance 16(2): 305-331.
  • Simon, D. T., & Francis, J. R. (1988). The effect of auditor on audit fees: test of price cutting and price discovery. The Accounting Review, 63(2), 255-269.
  • Simunic, D. A., & Stein, M. T. (1996). Impact of litigation risk on audit pricing: A review of the economics and the evidence. Auditing, Suppl. University of Waterloo Symposium on Auditing Research, 15, 119-134. Retrieved from https://www.proquest.com/scholarly-journals/impact-litigation-risk-on-audit-pricing-review/docview/216733305/se-2
  • Simunic, D.A. (1980). The Pricing of Audit Services: Theory and Evidence. Journal of Accounting Research, 18(1), 161–190. https://doi.org/10.2307/2490397.
  • Solomon, I. R. A. (1990). Discussion of “The jointness of audit fees and demand for MAS: A self‐selection analysis”. Contemporary Accounting Research, 6(2), 323-328. https://doi.org/10.1111/j.1911-3846.1990.tb00761.x
  • Stein, M., Simunic, D., & O´Keefe, T. (1994). Industry differences in the production of audit services. Auditing: A Journal of Practice and Theory, 13, 128-142.
  • Stice, J. D. (1991). Using financial and market information to identify pre-engagement factors associated with lawsuits against auditors. The Accounting Review 66 (July): 516-533.
  • Sundgren, S.U., & Svanström, T. (2013). Audit office size, audit quality and audit pricing: evidence from small- and medium-sized enterprises. Accounting and Business Research, 43(1), 31-55. https://doi.org/10.2139/ssrn.1869945
  • Tsui, J. S., Jaggi, B., & Gul, F. A. (2001). CEO domination, growth opportunities, and their impact on audit fees. Journal of Accounting, Auditing and Finance, 16(3), 189-208. https://doi.org/10.1177/0148558X0101600
  • Velte, P., and T. Loy. (2018). The impact of auditor rotation, audit firm rotation and nonaudit services on earnings quality, audit quality and investor perceptions: A literature review. Journal of Governance and Regulation 7(2): 74-90.
  • Wang, Y., and A. C. Chui. (2015). Product market competition and audit fees. Auditing: A Journal of Practice & Theory 34(4): 139-156.
  • William, J.R., Dasaratha, V.R., & Raghunandan, K. (2015). Local and Regional Audit Firms and the Market for SEC Audits. Accounting Horizons, 18(4), 241-254. https://doi.org/10.2308/acch.2004.18.4.241
  • Winograd, B.N., Gerson, J.S., & Berlin, B.L. (2000). Audit practices of PricewaterhousesCoopers. Auditing: A Journal of Practice and Theory, 19 (2), 175-182. https://doi.org/10.2308/aud.2000.19.2.176
  • Woolsey, S. M. (1954a). Development of criteria to guide the accountant in judging materiality. Journal of Accountancy, 97(2), 167-173.
  • Woolsey, S. M. (1954b). Judging materiality in determining requirements for full disclosure. Journal of Accountancy, 98(6), 745-750.
  • Woolsey, S. M. (1973). Materiality survey. Journal of Accountancy, 136(3), 91-92.
  • Wright, A. (1988). The impact of prior working papers on auditor evidential planning judgments. Accounting, Organizations and Society, 13 (6), 595-605. https://doi.org/10.1016/0361-3682(88)90033-5
  • Wright, A., & Wright, S. (1997). An examination of factors affecting the decision to waive audit adjustments. Journal of Accounting, Auditing and Finance, 12(1), 15-36. https://doi.org/10.1177/0148558X97012001
  • Wu, C.Y.-H., Hsu, H.-H. and Haslam, J. (2016), “Audit committees, non-audit services, and auditor reporting decisions prior to failure”, The British Accounting Review, Vol. 48 No. 2, pp. 240-256
  • Zaman, M., M. Hudaib, and R. Haniffa. (2011). Corporate governance quality, audit fees and non-audit services fees. Journal of Business Finance & Accounting 31(1/2): 165-97.
  • Zimbelman, M. F. (1997). The Effects of SAS No. 82 on Auditors’ Attention to Fraud Risk Factors and Audit Planning Decisions. Journal of Accounting Research, 35, 75–97. https://doi.org/10.2307/2491454
Fuente de los datos: Dialnet