Self-regulation versus government oversight: audit fees research

Joseph Akadeagre Agana, Anna Alon and Stephen Zamore

Journal of Accounting Literature, 2023, vol. 45, issue 2, 340-363

Abstract: Purpose - With Sarbanes–Oxley Act of 2002 (SOX), the self-regulation of the auditing profession was replaced with standard setting and oversight by the government. The authors focus on the audit fees literature to examine how this change impacted research trends over time and shaped different aspects of audits. Design/methodology/approach - The authors utilized bibliometric and content analysis to identify research themes pre- and post-SOX. Findings - The change in regulation contributed to an increased focus on clients and continued interest in engagement characteristics as added requirements emphasized the client's governance structure, the auditor's tenure and the type of services provided. Originality/value - The prominent issue that emerged is how deficiencies in the audit processes and in the client's internal controls are translated into audit fees. The authors discuss regulatory initiatives pursued in other jurisdictions, including mandatory rotation of firms, joint audits and further limitations on non-audit services, as intended and unintended consequences of these requirements warrant further examination.

Keywords: Audit fees; Regulation; Sarbanes–Oxley act; Bibliometric citation analysis; M40; M41; M42; M48; H83 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jalpps:jal-12-2021-0017

DOI: 10.1108/JAL-12-2021-0017

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