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| Tekijä: | Vieru, M. Schadewitz, H. |
| Otsikko: | Impact of IFRS transition on audit and non-audit fees: Evidence from small and medium-sized listed companies in Finland |
| Lehti: | Liiketaloudellinen aikakauskirja
2010 : 1, p. 11-41 |
| Asiasana: | accounting auditing financial reporting standards small and medium-sized enterprises (SMEs) listed companies Nordic countries Finland |
| Vapaa asiasana: | fees |
| Kieli: | eng |
| Tiivistelmä: | This study focuses on fees paid to auditors during a major accounting change (herein as: a-chg.) associated with extra audit risk and work. It is particularly analysed how a major a-chg. from local GAAP to IFRS (that is, International Financial Reporting Standards) affects the audit and non-audit fees paid to auditors. This study's sample includes Finnish listed firms that have adopted IFRS for the first-time. The Finnish data are employed since prior research findings suggest that there are large differences btw. the Finnish accounting standards (FAS) and IFRS anticipating extra audit risk and work at the accounting move. Hence, extensive supply for audit and non-audit services during the transition from FAS to IFRS is highly likely to occur. Based on unique, hand-collected data, there is provided evidence that a company with a high FAS-IFRS disparity is associated with more costly non-audit services during the transition phase than one with low disparity. Furthermore, the results uncover that audit fees, where audit markets are more competitive, are not remarkably related to the magnitude of IFRS adjustments etc. |
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