Litigation Risk, Audit Fees and the Financial Crisis Impact: Empirical Evidence from the UK

Panagiotis E. Dimitropoulos ()
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Panagiotis E. Dimitropoulos: University of Peloponnese

Chapter 3 in Business Under Crisis Volume I, 2022, pp 41-61 from Palgrave Macmillan

Abstract: Abstract The purpose of this chapter is to provide empirical evidence regarding the impact of litigation risk on audit and non-audit fees during and after the 2008 financial crisis (FC). The study adopts a panel cross-sectional regression model in order to analyze the cost structure of the audit and non-audit fees. A total of 93 non-financial companies listed on the London Stock Exchange (LSE) are chosen as a sample in this study. The empirical results of this research suggest that the litigation risk during the FC period do not influence the level of both auditing and non-auditing fees in the UK. But after the FC period, clients have exerted the fee pressure on their auditors to limit the non-auditing service fee payments.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pscchp:978-3-030-76567-5_3

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DOI: 10.1007/978-3-030-76567-5_3

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