Audit fee premium for national and local level of industry expertise in Italy

IF 2.8 3区 管理学 Q2 BUSINESS, FINANCE Managerial Auditing Journal Pub Date : 2022-07-28 DOI:10.1108/maj-05-2021-3146
Tatiana Mazza, S. Azzali, Andrey Simonov
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引用次数: 1

Abstract

Purpose This study aims to examine whether national industry expertise in Italy is more dominant than local expertise. Prior studies from Australia, USA and UK show that audit fees for industry experts are priced at a higher premium at the local level than the national level. These countries have voluntary audit firm rotation, while Italy has mandatory audit firm rotation (MAFR). The authors predict that Italy has a stronger national than local level of industry expertise, to better retain and transfer industry expertise. Design/methodology/approach The authors compare audit fee premiums of national industry experts to local levels, using quantitative (multivariate tests) and qualitative (interviews) methodology. Findings Using hand-collected audit fees, the authors find that the audit fee premium for industry expertise is greater at the national level than the local level. The authors find corroborating results with audit hours. To provide further support, the authors conduct analysis for a neighboring country that does not have audit firm rotation. Using hand-collected data from Germany, the authors find that audit fee premiums from national industry expertise are no different from local industry expertise. Originality/value The present study study has theoretical and practical implications, for European Union countries, which recently adopted MAFR and for countries considering adoption in the future.
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意大利国家和地方行业专业知识审计费溢价
本研究旨在检验意大利的国家产业专业知识是否比地方专业知识更具主导地位。澳大利亚、美国和英国先前的研究表明,地方层面的行业专家审计费用溢价高于国家层面。这些国家实行自愿审计事务所轮转,而意大利实行强制审计事务所轮转(MAFR)。作者预测,意大利拥有比地方更强大的国家工业专业知识水平,以更好地保留和转移工业专业知识。设计/方法/方法作者采用定量(多变量检验)和定性(访谈)方法,比较了国家和地方行业专家的审计费用溢价。使用手工收取的审计费用,作者发现国家层面的行业专家审计费用溢价高于地方层面。作者发现了与审计时间有关的确凿结果。为了提供进一步的支持,作者对一个没有审计事务所轮转制度的邻国进行了分析。利用德国的手工收集数据,作者发现,来自国家行业专业知识的审计费用溢价与来自地方行业专业知识的审计费用溢价没有区别。原创性/价值本研究对最近采用MAFR的欧盟国家和考虑将来采用MAFR的国家具有理论和实践意义。
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来源期刊
CiteScore
5.40
自引率
13.80%
发文量
45
期刊介绍: The key areas addressed are: ■Audit and Assurance (financial and non-financial) ■Financial and Managerial Reporting ■Governance, controls, risks and ethics ■Organizational issues including firm cultures, performance and development In addition, the evaluation of changes occurring in the auditing profession, as well as the broader fields of accounting and assurance, are also explored. Debates concerning organizational performance and professional competence are also covered.
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