The relationship between audit fees and audit committee characteristics: Evidence from Borsa İstanbul

Year 2023, , 309 - 321, 30.04.2023

Serkan Terzi , İlker Kıymetli Şen

https://doi.org/10.25287/ohuiibf.1152369

Cited By: 2

Abstract

This study examines the relationship between the audit fee announced by the companies traded in Borsa Istanbul and the audit committee characteristics. In the study, the audit committee characteristics were used as the total number of members, the number of female members, the number of independent members, the expertise of the members, their education level and the number of meetings. For this purpose, 205 companies traded in Borsa Istanbul in 2020 and 2021 were included in the analysis. Multiple linear regression analysis was used in the study. In the study, a significant and positive relationship was determined between the audit fee and the female members of the audit committee who were educated in the field of economics and administrative sciences. However, other hypotheses were rejected. In addition, a significant and positive relationship was determined between the company size, the independent auditor, and the audit fee.

Keywords

Audit Fee, Audit Committee, Borsa Istanbul

Denetim ücreti ile denetim komitesinin karakteristikleri arasındaki ilişki: Borsa İstanbul örneği

Abstract

Bu çalışmada Borsa İstanbul’da işlem gören şirketlerin açıkladığı denetim ücreti ile denetim komitesinin karakteristikleri arasındaki ilişki incelenmiştir. Çalışmada denetim komitesinin karakteristikleri olaraktoplam üye sayısı, kadın üye sayısı, bağımsız üye sayısı, üyelerin uzmanlıkları, eğitim düzeyleri ve yapılan toplantı sayısı kullanılmıştır. Bu amaçla Borsa İstanbul’da 2020 ve 2021 yıllarında işlem gören 205 şirket analize dahil edilmiştir. Çalışmada çoklu doğrusal regresyon analizi kullanılmıştır. Yapılan çalışmada denetim ücreti ile denetim komitesinde iktisadi ve idaribilimler alanında eğitim gören kadın üyeler arasında anlamlı ve pozitif ilişki tespit edilmiştir. Bunun yanında diğer hipotezler reddedilmiştir. Ayrıca şirketin büyüklüğüvebağımsız denetçi ile denetim ücreti arasında anlamlı ve pozitif ilişki tespit edilmiştir.

Keywords

Denetim Ücreti, Denetim Komitesi, Borsa İstanbul

References

• Abbott, L.J., Parker, S., Peters, G.F. ve Raghunandan, K. (2003). The association between audit committee characteristics and audit fees, Auditing: A Journal of Practice & Theory, 22(2), 17-32. DOI: 10.2308/aud.2003.22.2.17
• Aldamen, H., Hollindale, J. ve Ziegelmayer, J.L. (2018). Female audit committee members and their influence on audit fees, Accounting and Finance, 58, 57-89. DOI: 10.1111/acfi.12248
• Ali, M.J. Singh, R.K.S. ve Al-Akra, M. (2018). The impact of audit committee effectiveness on audit fees and non-audit service fees: Evidence from Australia, Accounting Research Journal, 31(2), 174-191. DOI: 10.1108/ARJ-11-2015-0144
• Alkebse, R.H., Tian, G.L., Usman, M., Siddique, M.A. ve Alhebry , A.A. (2021). Gender diversity in audit committees and audit fees: evidence from China, Managerial Auditing Journal, 36(1), 72-104. DOI: 10.1108/MAJ-06-2019-2326
• Abbas, K., Alam, A. ve Bhuiyan, B.U. (2020). Audit committees, female directors and the types of female and male financial experts: Further evidence, Journal of Business Research, 114, 186-197. DOI: 10.1016/j.jbusres.2020.04.013
• Bhuiyan, B.U., Rahman, A. ve Sultana, N. (2020). Female tainted directors, financial reporting quality and audit fees, Journal of Contemporary Accounting and Economics, 16, 1-17. DOI: 10.1016/j.jcae.2020.100189
• Carcello, J.V. ve Neal, T.L. (2000). Audit committee composition and auditor reporting, The Accounting Review, 75(4), 453-467.
• Carcello, J.V., Hermanson, D.R. Neal, T.L. ve Riley, R.A. (2002). Board characteristics and audit fees, Contemporary Accounting Research, 19(3), 365-84. DOI: 10.1506/CHWK-GMQ0-MLKE-K03V
• Collier, P. ve Gregory, A. (1996). Audit committee effectiveness and the audit fee, The European Accounting Review, 5(2), 177-198. DOI: 10.1080/09638189600000012
• DeZoort, F.T. (1998). An analysis of experience effects on audit committee members’ oversight judgments, Accounting, Organization and Society, 23(1), 1-21. DOI: 10.1016/S0361-3682(97)00029-9
• DeZoort, F.T., Hermanson, D.R. ve Houston, R.W. (2003). Audit committee support for auditors: The effects of materiality justification and accounting precision, Journal of Accounting and Public Policy, 22, 175-199. DOI: 10.1016/S0278-4254(03)00007-3
• DeZoort, F.T. ve Salterio, S.E. (2001). The effects of corporate governance experience and financial-reporting and audit knowledge on audit committee members’ judgments, Auditing: A Journal of Practice & Theory, 20(2), 31-47. DOI: 10.2308/aud.2001.20.2.31
• Drogalas, G., Nerantzidis, M., Mitskinis, D. ve Tampakoudis, I. (2021). The relationship between audit fees and audit committee characteristics: evidence from the Athens Stock Exchange, International Journal of Disclosure and Governance, 18, 24-41. DOI: 10.1057/s41310-020-00088-9
• Goodwin-Stewart, J. ve Kent, P. (2006). Relation between external audit fees, audit committee characteristics and internal audit, Accounting and Finance, 46, 387-404. DOI: 10.1111/j.1467-629X.2006.00174.x
• Gull, A.A., Atif, M, Issa, A., Usman, M. ve Siddique, M.A. (2021). Female CEO succession and audit fees: evidence from China, Managerial Auditing Journal, 36(3), 485-509. DOI: 10.1108/MAJ-09-2020-2824
• Huang, T.C., Huang, H.W. ve Lee, C.C. (2014). Corporate executive’s gender and audit fees, Managerial Auditing Journal, 29(6), 527-547. DOI: 10.1108/MAJ-03-2013-0837
• Ittonen, K., Miettinen, J. ve Vähämaa, S. (2010). Does female representation on audit committees affect audit fees?, Quarterly Journal of Finance and Accounting, 49(3/4), 113-139.
• Karamanou, I. ve Vafeas, N. (2005). The association between corporate boards, audit committees, and management earnings forecasts: an empirical analysis, Journal of Accounting Research, 43(3), 453-486. DOI: 10.1111/j.1475-679X.2005.00177.x
• Krishnan, J. (2005). Audit committee quality and internal control: an empirical analysis, The Accounting Review, 80(2), 649-675.
• Lai, K.M.Y., Srinidhi, B., Gul, F.A. ve Tsui, J.S.L. (2017). Board gender diversity, auditor fees, and auditor choice, Contemporary Accounting Research, 34(3), 1681-1714. DOI: 10.1111/1911-3846.12313
• Liu, S. (2017). An empirical study: auditors’ characteristics and audit fee, Open Journal of Accounting, 6, 52-70. DOI: 10.4236/ojacct.2017.62005
• Loukil, L. (2014). Audit committees and audit fees: an empirical study in large French listed companies, Journal of Accounting – Business & Management, 21(2), 36-53.
• Miglani, S. ve Ahmed, K. (2019). Gender diversity on audit committees and its impact on audit fees: evidence from India, Accounting Research Journal, 32(4), 568-586. DOI: 10.1108/ARJ-01-2018-0001
• Nekhili, M., Gull, A.A., Chtioui, T. ve Radhouane, I. (2020). Gender-diverse boards and audit fees: what difference does gender quota legislation make?, Journal of Business Finance & Accounting, 47, 52-99. DOI: 10.1111/jbfa.12409
• Özer, G. ve Merter, A.K. (2019). Denetim komitesi özelliklerinin firma ihtiyatlilik düzeyine etkisi: BIST’te bir uygulama, Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, 17(4), 50-71. DOI: 10.18026/cbayarsos.485075
• Qasim, A., Muqattash, R. ve Barghouthi,I S.A. (2019). Examining the relationship between audit committee effectiveness and audit fees: An empirical investigation on companies listed in the UAE financial markets, Electronic Journal of Applied Statistical Analysis, 12(2), 263-276. DOI: 10.1285/i20705948v12n1p263
• Rani, A. (2018). Audit committee effectiveness: relationship between audit committee characteristics and audit fees and non-audit service fees, Journal of Commerce & Accounting Research, 7(3), 35-44.
• Sellami, Y.M. ve Cherif, I. (2020). Female audit committee directorship and audit fees, Managerial Auditing Journal, 35(3), 398-428. DOI: 10.1108/MAJ-12-2018-2121
• Turley, S. ve Zaman, M. (2004). The corporate governance effects of audit committees, Journal of Management and Governance, 8, 305-332. DOI: 10.1007/s10997-004-1110-5
• Vafeas, N. ve Waegelein, J.F. (2007). The association between audit committees, compensation incentives, and corporate audit fees, Review of Quantitative Finance and Accounting, 28, 241-255. DOI: 10.1007/s11156-006-0012-9
• Xin, L.B. ve Ping-Xin, W. (2006, October). An empirical research on the effectiveness of audit committee evidence based on audit fee of Chinese listed companies, 2006 International Conference on Management Science and Engineering, 05-07 October 2006, Lille, France, 1435-1440. DOI: 10.1109/ICMSE.2006.314255