Governance regulatory changes, IFRS adoption, and New Zealand audit and non-audit fees:
Empirical evidence

Sun, Yuan; Lont, David H; Griffin, Paul A

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Governance regulatory changes, IFRS adoption, and New Zealand audit and non-audit fees: Empirical evidence

Griffin, Paul A; Lont, David H; Sun, Yuan

Cite this item: Griffin, P. A., Lont, D. H., & Sun, Y. (2008). Governance regulatory changes, IFRS adoption, and New Zealand audit and non-audit fees: Empirical evidence (Accountancy Working Paper Series). University of Otago. Retrieved from http://hdl.handle.net/10523/1546

Permanent link to OUR Archive version: http://hdl.handle.net/10523/1546

Date: 2008-12-31

Publisher: University of Otago

Pages: 39

Series: Accountancy Working Paper Series

Keywords: Audit fees; auditor independence; governance regulations; International Financial Reporting Standards; non-audit fees; NZ IFRS; Sarbanes-Oxley (SOX).

Research Type: Working Paper

Abstract:

This study examines the association between overseas and New Zealand governance regulatory reforms in New Zealand public companies’ audit and non-audit fees. We state audit and non-audit fee models, and use temporal and IFRS indicator variables to relate the timing of the fee changes with the incidence of the overseas and local governance reforms.

We find that audit fees increased in New Zealand over 2002-2006. Such increases associate reliably with the transition to and adoption of NZ IFRS and not with the overseas governance reforms in the United States and Australia, enacted earlier.

Our results also show a decrease in non-audit fees over the same period but we find no IFRS effect for non-audit fees.

JEL Classification: C30, K22, L80, M40, M41.

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Accountancy and Finance [242]

Version History

Version	Item	Editor	Date
4	10523/1568	Andrea Schweer	2011-04-07T03:22:49Z
3	10523/1549	Andrea Schweer	2011-04-07T03:22:42Z
2	10523/1546*	Andrea Schweer	2011-04-07T03:22:41Z
1	10523/1578	Andrea Schweer	2011-04-07T03:22:52Z

Governance regulatory changes, IFRS adoption, and New Zealand audit and non-audit fees: Empirical evidence

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Governance regulatory changes, IFRS adoption, and New Zealand audit and non-audit fees: Empirical evidence

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