search query: @indexterm Audit costs / total: 22
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| Author: | Engel, E. Hayes, R.M. Wang, X. |
| Title: | Audit committee compensation and the demand for monitoring of the financial reporting process |
| Journal: | Journal of Accounting & Economics
2010 : FEB, VOL. 49:1-2, p. 136-154 |
| Index terms: | audit committees board of directors compensation audit costs |
| Language: | eng |
| Abstract: | This study investigates the relation between audit committee compensation and the demand for monitoring of the financial reporting process. The total compensation and cash retainers paid to audit committees are found to be positively correlated with audit fees and the impact of the Sarbanes-Oxley Act, the proxies for the demand for monitoring. The results are robust to the inclusion of audit committee quality measured as the committee chair financial expertise, and they suggest a recent willingness by firms to deviate from the historically prevalent one-size-fits-all approach to director pay in response to increased demands on audit committees and differential director expertise. |
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