Large Audit Firm Premium and Audit Specialization in the Public Sector PDF Download
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Author: Michael E. Bradbury
Publisher:
ISBN:
Category :
Languages : en
Pages : 38
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Book Description
The outsourcing of public sector audits to private sector auditors is an important public sector issue. This paper addresses the existence of an audit brand name premium in the public sector by comparing audit fees between the government auditor and Big 5 auditors. I also examine whether audit premiums exist for Big 5 industry, national and city specialists. The study contributes to prior research by (1) statistically adjusting for self-selection bias, and (2) allowing slope coefficients in the audit fee model to vary between the Big 5 and the government audit sector and estimating the counterfactual fee (i.e., the expected fee using the alternative auditor fee model). The Big 5 premium is around 23 percent. However, this depends on whether the Big 5 auditor is an industry specialist. An industry specialist passes on a discount of 17.4 percent to the client. There is no premium related to being a national leader. The evidence is mixed as to whether city specialists command an audit fee premium.
Author: Michael E. Bradbury
Publisher:
ISBN:
Category :
Languages : en
Pages : 38
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Book Description
The outsourcing of public sector audits to private sector auditors is an important public sector issue. This paper addresses the existence of an audit brand name premium in the public sector by comparing audit fees between the government auditor and Big 5 auditors. I also examine whether audit premiums exist for Big 5 industry, national and city specialists. The study contributes to prior research by (1) statistically adjusting for self-selection bias, and (2) allowing slope coefficients in the audit fee model to vary between the Big 5 and the government audit sector and estimating the counterfactual fee (i.e., the expected fee using the alternative auditor fee model). The Big 5 premium is around 23 percent. However, this depends on whether the Big 5 auditor is an industry specialist. An industry specialist passes on a discount of 17.4 percent to the client. There is no premium related to being a national leader. The evidence is mixed as to whether city specialists command an audit fee premium.
Author: United States. General Accounting Office
Publisher: Nova Publishers
ISBN: 9781604565034
Category : Business & Economics
Languages : en
Pages : 154
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Book Description
This book examines (1) concentration in the market for public company audits, (2) the potential for smaller accounting firms' growth to ease market concentration, and (3) proposals that have been offered by others for easing concentration and the barriers facing smaller firms in expanding their market shares.
Author: Ignace de Beelde
Publisher:
ISBN:
Category :
Languages : en
Pages : 19
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Book Description
Author: David Hay
Publisher: Routledge
ISBN: 1136210342
Category : Business & Economics
Languages : en
Pages : 504
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Book Description
Auditing has been a subject of some controversy, and there have been repeated attempts at reforming its practice globally. This comprehensive companion surveys the state of the discipline, including emerging and cutting-edge trends. It covers the most important and controversial issues, including auditing ethics, auditor independence, social and environmental accounting as well as the future of the field. This handbook is vital reading for legislators, regulators, professionals, commentators, students and researchers involved with auditing and accounting. The collection will also prove an ideal starting place for researchers from other fields looking to break into this vital subject.
Author: Laurence Ferry
Publisher: Emerald Group Publishing
ISBN: 1801170851
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
Through a comparative analysis of the development of auditing practices in governments across the globe, Auditing Practices in Local Governments: An International Comparison provides a contemporary overview of public sector auditing practices at both local and state level.
Author: Daniel Tinkelman
Publisher: Edward Elgar Publishing
ISBN: 1800888287
Category : Business & Economics
Languages : en
Pages : 449
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Book Description
Bringing together a diverse team of renowned accounting scholars, this incisive Research Handbook presents a comprehensive evaluation of current research on nonprofit accounting, noting its major accomplishments and outlining opportunities for future study.
Author: Vivien A. Beattie
Publisher:
ISBN:
Category :
Languages : en
Pages : 47
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Book Description
Given the growing demand for accountability in the public sector, there is a need to begin to investigate audit pricing issues in markets within this sector. This study makes three principal contributions. First, it develops and estimates, for the first time, a model of audit fee determinants relevant to the charity sector. The model is based on 210 of the top 500 UK charities with average incoming resources of 27 million pounds. As in previous private sector company studies, size, organisational complexity and audit firm location are the major determinants. A positive association between audit fees and fees for non-audit services is also observed. Charity sector factors of empirical significance include the fundamental nature of the charity (i.e., predominantly grant-making or fund-raising), the importance of trading as a source of charity income and the charity's activity. Separate models are developed for grant-making and fund-raising charities, the results reflecting the relative complexity of the audit of fund-raising charities. Second, the lower auditor concentration in the charity sector market, compared to the private sector market, permits a more powerful test of whether large firms and/or auditor expertise are rewarded with a fee premium. The results show that Big 6 audit firms receive higher audit fees (18.5%, on average) than non-Big 6 firms for audits of fund-raising charities. There is also evidence that non-Big 6 audit firms with expertise in the sector are rewarded with a fee premium over other non-Big 6 firms, again in the more complex audit environment of fund-raising charities.Finally, the study demonstrates that the charity audit fee rate is significantly lower than that of private sector companies; in fact it is approximately half. Further research that discriminates between alternative explanations of this differential is called for. A change in the reporting of charity audit fees is proposed to reflect any element of 'charitable giving' by the audit firm.
Author: Carolyn J. Cordery
Publisher: Routledge
ISBN: 0429510306
Category : Business & Economics
Languages : en
Pages : 110
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Book Description
This book provides a concise overview of the current context and types of public sector audit and the varied structures within which public sector audit is practised across the world. It summarises the objectives of public sector audit as well as explores the role of the International Organisation of Supreme Audit Institutions in providing guidance to these. Drawing on public and private sector audit as well as the views of academics and practitioners on public sector audit, it provides a unique research-based guide to the current issues and future challenges in the field.
Author: Reiner Quick
Publisher: Routledge
ISBN: 1134060246
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
In this important new book, the European Auditing Research Network gives a timely appraisal of the regulatory environment for financial accounting and auditing in the wake of a series of high profile scandals involving major corporations.
Author: Vani K. Borooah
Publisher: SAGE
ISBN: 9780761922421
Category : Mathematics
Languages : en
Pages : 108
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Book Description
Many problems in the social sciences are amenable to analysis using the analytical tools of logit and probit models. This book explains what ordered and multinomial models are and also shows how to apply them to analysing issues in the social sciences.
