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The Relation Between Auditors' Fees for Non-Audit Services and Earnings Quality (Classic Reprint)

The Relation Between Auditors' Fees for Non-Audit Services and Earnings Quality (Classic Reprint)

140009687
1200 руб.
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Excerpt from The Relation Between Auditors' Fees for Non-Audit Services and Earnings Quality

The analysis is based on auditor fee data collected from proxy statements filed with the sec between February 5, 2001, and June 15, 2001. We use the fee disclosures to construct two measures of non - audit services. The first measure is the ratio of non-audit fees to total fees (feeratio). The second measure disaggregates total fees into its non-audit (ranknon) and audit (rankaud) components, both of which we measure as the percentile ranks for each client of a given auditor.

Results from the first set of tests indicate a significant positive association between the purchase of non-audit fees and earnings management. Feeratio and rankn ON are significantly higher for firms just meeting analyst forecasts. In contrast, both measures are negative and significant for firms just missing analyst forecasts. However, we find no association between either feeratio or rankn ON and two other earnings benchmarks, small increases in earnings and small positive earnings. The results also indicate that feeratio and ranknon are significantly higher for firms with high absolute discretionary accruals. These results are robust across several alternative specifications, and indicate that firms purchasing more non-audit services manage earnings to a greater extent than other firms. We interpret this evidence as consistent with the argument that the provision of non-audit services strengthens an auditor's economic bond with the client.

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