The Awareness of External Auditors and the Management of Kuwaiti Listed Companies on Determinants of Audit Fees: An Exploratory Study

Faisal Alanezi and Mishari Alfraih

International Journal of Business and Management, 2015, vol. 11, issue 1, 108

Abstract: This paper explored the factors that influence audit fees determinants in the Kuwait audit market. A questionnaire was distributed to a number of audit firms operating in the Kuwaiti market and Kuwaiti companies listed on the Kuwait Stock Exchange (KSE). The results indicated that all factors show a Likert-scale score of greater than 2.5, suggesting that all the factors included in the questionnaire influence the audit fee determinants. Among the 25 factors included in this study, audit firm brand name, time spent completing a given job and auditors experience were the most important factors influencing audit fees determinants in the Kuwait audit market from audit firm and companies perspective. In contrast, company age, client company location and audit firm location were the least important factors influencing the determinants of audit fee in Kuwait from audit firm and companies perspectives. The results of the t-test revealed that there are significant differences in the mean ranking of some of the factors assumed to determinant the audit fee in Kuwait audit market between the two groups of respondents (audit firms and companies). The findings presented in this study may help professional accounting associations and both audit firms and companies to better understand the factors influencing audit fee determinants in Kuwait audit market.

Date: 2015
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