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Audit Fees after IFRS Adoption: Evidence from Malaysia

Najihah Yaacob () and Ayoib Che-Ahmad ()

Eurasian Business Review, 2012, vol. 2, issue 1, 31-46

Abstract: The new IFRS demand detailed disclosure, which requires more effort and time to conduct an audit engagement. Moreover, the report by the Institute of Chartered Accountants in England and Wales highlights that among the major IFRS related costs is the increment in auditing costs. Thus, the question of whether IFRS adoption in Malaysia would affect audit fees is questionable. An advanced data structure, panel data analysis, for a 5-year period (2004–2008) was utilized. The panel data regression results revealed a significant increase in the audit fees in the post-IFRS adoption period. This study provides evidence concerning the complexity of the new and amended IFRS, which results in auditors having to increase audit pricing to compensate for the increased audit effort. Copyright Eurasia Business and Economics Society 2012

Keywords: Audit Fees; Malaysia; IFRS; Panel Data Analysis; Fixed Effects Model; M42 (search for similar items in EconPapers)
Date: 2012
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