Abstract

http://ssrn.com/abstract=1432663
 


 



Governance Regulatory Changes, International Financial Reporting Standards Adoption, and New Zealand Audit and Non-Audit Fees: Empirical Evidence


Paul A. Griffin


University of California, Davis - Graduate School of Management

David H. Lont


University of Otago - Department of Accountancy and Finance

Yuan Sun


Boston University - School of Management

April 1, 2009

Accounting and Finance, 2009

Abstract:     
This study examines the association between overseas and New Zealand governance regulatory reforms and New Zealand companies’ audit and non-audit fees. Our models use temporal and International Financial Reporting Standards (IFRS) indicator variables to relate the timing of the fee changes to the incidence of the overseas and local 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 earlier overseas governance reforms. Our study also documents a decrease in non-audit fees over the same period, but we find no IFRS effect for non-audit fees.

Keywords: Audit fees, Auditor independence, Governance regulations, International Financial Reporting Standards, Non-audit fees, NZ IFRS, Sarbanes–Oxley Act

JEL Classification: C30, K22, L80, M40, M41, M44, M47

Accepted Paper Series


Not Available For Download

Date posted: July 16, 2009  

Suggested Citation

Griffin, Paul A. and Lont, David H. and Sun, Yuan, Governance Regulatory Changes, International Financial Reporting Standards Adoption, and New Zealand Audit and Non-Audit Fees: Empirical Evidence (April 1, 2009). Accounting and Finance, 2009. Available at SSRN: http://ssrn.com/abstract=1432663

Contact Information

Paul A. Griffin
University of California, Davis - Graduate School of Management ( email )
3102 Gallahger Hall
Davis, CA 95616
United States
(530) 752-7372 (Phone)
(425) 799-4143 (Fax)
HOME PAGE: http://www.gsm.ucdavis.edu/griffin/

David H. Lont (Contact Author)
University of Otago - Department of Accountancy and Finance ( email )
Box 56
Dunedin, Otago 9054
New Zealand
+64 3 479 8119 (Phone)
+64 3 479 8171 (Fax)
HOME PAGE: http://www.business.otago.ac.nz/acty/
Yuan Sun
Boston University - School of Management ( email )
595 Commonwealth Avenue
Boston, MA MA 02215
United States
1-617-353-2353 (Phone)
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