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The effect of client fee dependence on audit independence
journal contribution
posted on 2022-11-30, 01:39 authored by L Barkess, Roger SimnettRoger Simnett, P UrquhartThis paper examines the effect of client fee dependence on the independence of audit firms. For the largest 25 audit firms for which fee revenue and total revenue could be determined, three research approaches were used to identify whether inappropriate audit opinions are being issued to large-fee clients. All situations identified by an audit opinion prediction model as having a high probability of qualification were duly qualified. It was found that for the top 25 audit firms, the level of fee dependence from any one client was substantially below the level suggested in auditing standards. In summary, the investigation was unable to identify any instances of fee dependence impairing the independence of auditors. © 2002 CPA Australia.
History
Journal
Australian Accounting ReviewVolume
12Pagination
14 - 22Publisher DOI
ISSN
1035-6908eISSN
1835-2561Publication classification
C1.1 Refereed article in a scholarly journal; C Journal articleUsage metrics
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