3,800
Views
8
CrossRef citations to date
0
Altmetric
ACCOUNTING, CORPORATE GOVERNANCE & BUSINESS ETHICS

The impact of audit committee characteristics on audit fees; evidence from Ghana

ORCID Icon, ORCID Icon, & ORCID Icon
Article: 2141091 | Received 19 Dec 2021, Accepted 25 Oct 2022, Published online: 10 Nov 2022

References

  • Abbott, L. J., Parker, S., Peters, G. F., & Raghunandan, K. (2003). The Association between Audit Committee Characteristics and Audit Fees. Auditing: A Journal of Practice & Theory, 22(2), 17–20. https://doi.org/10.2308/aud.2003.22.2.17
  • Abbott L, Park Y and Parker S. (2000). The effects of audit committee activity and independence on corporate fraud. Managerial Finance, 26(11), 55–68. https://doi.org/10.1108/03074350010766990
  • Abu, S. (2021). Audit committee characteristics and audit fees of listed consumer goods sector in Nigeria. https://ssrn.com/abstract=3785240
  • Abu, S. O., Yahaya, A. O., & Abah, C. (2018). Audit committee effectiveness and audit quality of listed insurance companies in Nigeria. International Journal of Research in Finance and Management, 1(2), 35–44. https://www.allfinancejournal.com/article/view/14/1-2-10
  • Afenya, M. S., Arthur, B., Kwarteng, W., & Kyeremeh, G. (2022). The impact of audit committee characteristics on audit report time lag: Evidence from Ghana. Research Journal of Finance and Accounting, 13(4), 1–11. https://doi.org/10.7176/RJFA/13-4-01
  • Agoes, S. (2012). Auditing practical guidelines for auditing accountants by public accountants. Four Salemba.
  • Alaswad, S. A. M., & Stanišić, M. (2016). Role of internal audit in performance of Libyan financial organizations. International Journal of Applied Research, 2(2), 352–356. https://www.allresearchjournal.com/archives/2016/vol2issue2/PartF/2-2-12.pdf
  • Ali, Muhammad Jahangir, Singh, Rajbans Kaur Shingara, Al-Akra, Mahmoud (2018) The impact of audit committee effectiveness on audit fees and non-audit service fees: Evidence from Australia. Accounting Research Journal,31 (2), 174–191. https://ideas.repec.org/a/eme/arjpps/arj-11-2015-0144.html
  • Asiriuwa, O., Aronmwan, E. J., Uwuigbe, U., & Uwuigbe, O. R. (2018). Audit committee attributes and audit quality: A benchmark analysis.verslas: Teorija IR Praktika/Business. Theory and Practice, 19, 37–48. https://doi.org/10.3846/btp.2018.05
  • Awinbugri, A.E. and Prince, G. (2019), “The impact of audit committees' meetings and audit fees on the financial performance of listed banks in Ghana”, International Journal of Research and Innovation in Social Science, 3 (5), 341–346. https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-3-issue-5/341-346.pdf
  • Azmi, N. A., Zakaria, N. B., & Yusoff, M. A. M. (2013). Audit committee attributes on audit fees: The impact of Malaysian Code of Corporate Governance (MCCG) 2007. Journal of Modern Accounting and Auditing, 9(11), 1442–1453. https://www.researchgate.net/publication/305995737_Audit_Committee_Attributes_on_Audit_Fees_The_Impact_of_Malaysian_Code_of_Corporate_Governance_MCCG_2007
  • Bala, H., Amran, N. A., & Shaari, H. 2018. The relationship between audit committee attributes and audit fees of listed companies in Nigeria. The Social Science Journal, 6, Special Issue, 402–408. https://ideas.repec.org/a/arp/tjssrr/2018p402-408.html
  • Beasley, M. S., Carcello, J. V., Hermanson, D. R., & Lapides, P. D. (2000). Fraudulent financial reporting: Consideration of industry traits and corporate governance mechanisms. Accounting Horizons, 14(4), 14–21. https://doi.org/10.2308/acch.2000.14.4.441
  • Bédard, J., & Gendron, Y. (2010). Strengthening the financial reporting system: Can audit committees deliver? International Journal of Auditing, 14(2), 174–210. https://doi.org/10.1111/j.1099-1123.2009.00413.x
  • Benedict, A., Gitonga, J. K., Agyeman, A. S., & Kyei, B. T. (2021). Financial determinants of SMEs performance. Evidence from Kenya leather industry. Small Business International Review, 5(2), e389. https://doi.org/10.26784/sbir.v5i2.389
  • Blue Ribbon Committee (BRC). (1999). Audit committee characteristics and restatements: A study of the efficacy of certain blue ribbon committee recommendations. New York Stock Exchange and National Association of Securities Dealers.
  • Carcello, J. V., Hermanson, D. R., Neal, T. L., & Riley Jr., R. A. (2002). Board characteristics and audit fees. Contemporary Accounting Research, 19(3), 365–384. https://doi.org/10.1506/CHWK-GMQ0-MLKE-K03V
  • Carcello, J., & Neal, T. (2000). Audit committee composition and auditor reporting. The Accounting Review, 75(4), 453–467. https://doi.org/10.2308/accr.2000.75.4.453
  • Carcello J V and Neal T L. (2003). Audit Committee Independence and Disclosure: choice for financially distressed firms. Corporate Governance, 11(4), 289–299. https://doi.org/10.1111/1467-8683.00327
  • Chariri, A., & Januarti, I. (2017). Audit committee characteristics and integrated reporting: empirical study of companies listed on the Johannesburg stock exchange. European Research Studies Journal, XX(4B), 305–318. https://doi.org/10.35808/ersj/892
  • Choi, J., Jeon, K., & Park, J. (2004). The role of audit committees in decreasing earnings statement: Korean evidence. International Journal of Accounting, Auditing & Performance Evaluation, 1(1), 37–60. https://doi.org/10.1504/IJAAPE.2004.004142
  • Collier, P., & Gregory, A. (1996). Audit committee effectiveness and the audit fee. European Accounting Review, 5(2), 177–198. https://doi.org/10.1080/09638189600000012
  • Dennis, M. R., & Kunkel, A. D. (2004). Perceptions of Men, Women, And CEOs: The effects of gender identity. Social Behavior and Personality: an International Journal, 32(2), 155–171(17. https://doi.org/10.2224/sbp.2004.32.2.155
  • DeZoort, F. T. (1997). An investigation of audit committees’ oversight responsibilities. Abacus, September(2), 208–227. https://doi.org/10.1111/1467-6281.00012
  • Drogalas, G., Nerantzidis, M., Mitskinis, D., & Tampakoudis, I. (2021). The relationship between audit fees and audit committee characteristics: Evidence from the Athens Stock Exchange. International Journal of Disclosure and Governance, 18(1), 24–41. https://doi.org/10.1057/s41310-020-00088-9
  • Farooq, M. U., Kazim, I., Usman, M., & Latif, I. (2018). Corporate governance and audit fees: Evidence from a developing country. Pakistan Journal of Commerce and Social Sciences, 12(1), 94–110. https://www.econstor.eu/bitstream/10419/188337/1/pjcss415.pdf
  • Felix, W. L., Gramling, A. A., & Maletta, M. J. (2001). The contribution of internal audit as a determinant of external audit fees and factors influencing this contribution. Journal of Accounting Research, 39(3), 513–534. https://doi.org/10.1111/1475-679X.00026
  • Ghafran, C., & O’Sullivan, N. (2017). The impact of audit committee expertise on audit quality: Evidence from UK audit fees. British Accounting Review, 49(6), 578–593. https://doi.org/10.1016/j.bar.2017.09.008
  • Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2009). Multivariate data analysis. Prentice Hall.
  • Hoque, M. Z., Islam, M. D. R., & Azam, M. N. (2013). Board Committee Meetings and Firm Financial Performance: An Investigation of Australian Companies. International Review of Finance, 13(4), 503–528. https://doi.org/10.1111/irfi.12009
  • Ittonen, K., Miettinen, J., & Vähämaa, S. (2010). Does female representation on audit committees affect audit fees? Quarterly Journal of Finance and Accounting, 49, 113–139. https://harisportal.hanken.fi/en/publications/does-female-representation-in-audit-committees-affect-audit-fees
  • Januarti, I., Darsono, D., & Chariri, A. (2020). The relationship between audit committee effectiveness and audit fees: Insights from Indonesia. The Journal of Asian Finance, Economics and Business, 7(7), 179–185. https://doi.org/10.13106/jafeb.2020.vol7.no7.179
  • Joshi, P. L., Deshmukh, A., & Azibi, J. (2021). The effects of internal audit, audit committee and firm characteristics on audit fees in a multi-country and industry setting. Emerging Markets Journal, 11(2), 25–35. https://emaj.pitt.edu/ojs/index.php/emaj/article/view/231
  • Kalbers, F. L. (1998). Organizational and economic explanations of audit committee oversight. Journal of Managerial Issues, 10, 129–151. https://www.jstor.org/stable/40604189
  • Kane G D and Velury U. (2004). The role of institutional ownership in the market for auditing services: an empirical investigation. Journal of Business Research, 57(9), 976–983. https://doi.org/10.1016/S0148-2963(02)00499-X
  • Kee, H. W. (2015). The impact of audit committee on audit fees in Malaysian public-listed companies. Business and Information Science.
  • Lee, H. Y., & Mande, V. (2005). The relationship of audit committee characteristics with endogenously determined audit and non-audit fees. Quarterly Journal of Business and Economics, 44(¾), 93–112. Published By: Creighton University Quarterly Journal of Business and Economics. https://www.jstor.org/stable/40473406
  • Lisic, L. L., Neal, T. L., Zhang, I. X., & Zhang, Y. (2016). CEO power, internal control quality, and audit committee effectiveness in substance versus in form. Contemporary Accounting Research, 33(3), 1199–1237. https://doi.org/10.1111/1911-3846.12177
  • Li, C. A., & Wearing, B. (2004). Between glass ceilings: Female non-executive directors in UK quoted companies. International Journal of Disclosure and Governance, 4(1), 355–372. https://doi.org/10.1057/palgrave.jdg.2040036
  • Mat, Y. F., & Puat, N. S. (2012). Audit committee and internal audit: Implications on audit quality. International Journal of Economics, Management and Accounting, 20(2), 187–218. https://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/216
  • Miglani, S., & Ahmed, K. (2019). Gender diversity on audit committees and its impact on audit fees.: Evidence from India. Accounting Research Journal, 32(4), 568–586. https://doi.org/10.1108/ARJ-01-2018-0001
  • Mustapha, A., Isiaka, A. O., & Babatunde, K. A. (2020). Audit committee effectiveness and audit fee among listed deposit money banks in Nigeria. Asian Journal of Economics, Business and Accounting, 20(4), 1–14. https://doi.org/10.9734/ajeba/2020/v20i430329
  • Nekhili, M., Gull, A. A., Chtioui, T., & Radhouane, I. (2020). Gender diverse boards and audit fees: What difference does gender Quota Legislation make? Journal of Business, Finance and Accounting, 47(1–2), 52–99. https://doi.org/10.1111/jbfa.12409
  • Nguyen, L. Q. T., Le, D. T., Luu, H. N., Nguyen, A. H., & Hoang, T. G. (2020). The role of audit quality in preventing firm misreporting: Empirical evidence from China. International Journal of Managerial Finance, 16(1), 83–100. https://doi.org/10.1108/IJMF-04-2019-0122
  • Omesi, I., & Appah, E. (2022). Risk Management Committee and Audit Committee On Audit Pricing of Listed Consumer Goods Manufacturing Companies in Nigeria. BW Academic Journal, 1(1). https://www.bwjournal.org/index.php/bsjournal/article/view/169
  • Pincus, K., & Rusbarsky, M. (1989). Voluntary formation of audit committee among NASDAQ firms. Journal of Accounting and Public Policy, 8(4), 239–265. https://doi.org/10.1016/0278-4254(89)90014-8
  • Public Oversight Board (POB). (1993). In the Public Interest: A Special Report by the Public Oversight Board of the SEC Practice Section.
  • Raghunandan, K., Read, W. J., & Rama, D. V. (2001). Audit committee composition, - gray directors, - and interaction with internal auditing. Accounting Horizons, June(2), 105–118. https://doi.org/10.2308/acch.2001.15.2.105
  • Simunic, D. (1980). The pricing of audit services: Theory and evidence. Journal ofAccounting Research, 18(1), 161{190. https://doi.org/10.2307/2490397
  • Sultana N, Singh H and Rahman A. (2019). Experience of Audit Committee Members and Audit Quality. European Accounting Review, 28(5), 947–975. https://doi.org/10.1080/09638180.2019.1569543
  • Sultana, N. S., & Van der Zahn, J. L. (2015). Audit committee characteristics and audit report lag. International Journal of Auditing, 2(19), 72–87. https://doi.org/10.1111/ijau.12033
  • Vafeas, N., & Waegelein, J. F. (2007). The association between audit committees, compensation incentives, and corporate audit fees. Review of Quantitative Finance and Accounting, 28(3), 241–255. https://doi.org/10.1007/s11156-006-0012-9
  • Wintoki, W. B., Linck, J. S., & Netter, J. M. (2012). Endogeneity and the dynamics of internal corporate governance. Journal of Financial Economics, 105(3), 581–606. https://doi.org/10.1016/j.jfineco.2012.03.005
  • Xiang, R., Qin, M., & Peterson, C. A. (2015). Gender diversity of audit committees and audit fees: Evidence from Chinese listed companies. Asian Journal of Finance and Accounting, 7(2), 239–254. https://doi.org/10.5296/ajfa.v7i2.8550
  • Yatim, P., Kent, P., & Clarkson, P. (2006). Governance structures, ethnicity, and audit fees of Malaysian listed firms. Managerial Auditing Journal, 21(7), 757–782. https://doi.org/10.1108/02686900610680530