Audit pricing in a reformed nonprofit market

Sandra Verbruggen (), Johan Christiaens, Anne-Mie Reheul () and Tom Van Caneghem ()
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Sandra Verbruggen: Hogeschool-Universiteit Brussel (HUB), Belgium
Anne-Mie Reheul: Hogeschool-Universiteit Brussel (HUB), Belgium
Tom Van Caneghem: Hogeschool-Universiteit Brussel (HUB), Belgium

No 2011/29, Working Papers from Hogeschool-Universiteit Brussel, Faculteit Economie en Management

Abstract: In contrast to the extant research on audit fees of for-profit companies, literature on non-profit audit fees is scant. In this paper, audit fee determinants of previous research are tested in a nonprofit market that is characterized by a relatively low dominance of Big4 auditors, low litigation risk, small nonprofit entities, high levels of subsidization and recent legislative reforms. Using OLS on a sample of nonprofit entities, we find that some known determinants such as auditor size and client complexity hold their ground. However, our findings on client profitability and auditor specialization show that refinements of audit fee models need to incorporate audit market characteristics, agency problems and signaling.

Pages: 40 page
Date: 2011-09
New Economics Papers: this item is included in nep-acc
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Citations: View citations in EconPapers (2)

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Working Paper: Audit pricing in a reformed nonprofit market (2011)
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