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Self-regulation versus government oversight: audit fees research

Self-regulation versus government oversight: audit fees research With Sarbanes–Oxley Act of 2002 (SOX), the self-regulation of the auditing profession was replaced with standard setting and oversight by the government. The authors focus on the audit fees literature to examine how this change impacted research trends over time and shaped different aspects of audits.Design/methodology/approachThe authors utilized bibliometric and content analysis to identify research themes pre- and post-SOX.FindingsThe change in regulation contributed to an increased focus on clients and continued interest in engagement characteristics as added requirements emphasized the client's governance structure, the auditor's tenure and the type of services provided.Originality/valueThe prominent issue that emerged is how deficiencies in the audit processes and in the client's internal controls are translated into audit fees. The authors discuss regulatory initiatives pursued in other jurisdictions, including mandatory rotation of firms, joint audits and further limitations on non-audit services, as intended and unintended consequences of these requirements warrant further examination. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Accounting Literature Emerald Publishing

Self-regulation versus government oversight: audit fees research

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References (114)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0737-4607
eISSN
2452-1469
DOI
10.1108/jal-12-2021-0017
Publisher site
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Abstract

With Sarbanes–Oxley Act of 2002 (SOX), the self-regulation of the auditing profession was replaced with standard setting and oversight by the government. The authors focus on the audit fees literature to examine how this change impacted research trends over time and shaped different aspects of audits.Design/methodology/approachThe authors utilized bibliometric and content analysis to identify research themes pre- and post-SOX.FindingsThe change in regulation contributed to an increased focus on clients and continued interest in engagement characteristics as added requirements emphasized the client's governance structure, the auditor's tenure and the type of services provided.Originality/valueThe prominent issue that emerged is how deficiencies in the audit processes and in the client's internal controls are translated into audit fees. The authors discuss regulatory initiatives pursued in other jurisdictions, including mandatory rotation of firms, joint audits and further limitations on non-audit services, as intended and unintended consequences of these requirements warrant further examination.

Journal

Journal of Accounting Literature – Emerald Publishing

Published: Apr 14, 2023

Keywords: Audit fees; Regulation; Sarbanes–Oxley act; Bibliometric citation analysis; M40; M41; M42; M48; H83

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