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The task “Maintenance
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Zadanie „Utrzymanie systemu antyplagiatowego”
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IMPACT OF REGULATORY PRESSURE ON AUDITING TIMEFRAME AND RISK: EVIDENCE FROM THE U.S. ENERGY INDUSTRY

Date added: 2014-04-01
Type: Article
Languages: English, Polish

Author / authors

Maksymilian Kochański

Maksymilian Kochański

Economics, Technology

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Abstract

This study examines the impact of regulatory pressure in the U.S. energy industry on auditing timeframe and risk based on a sample of 150 audit fee disclosures from proxy statements as well as 150 audit reports filed in 2012/2013 with Securities and Exchange Commission. It was found that in economic terms, the impact of moving from a non-­regulated to a regulated industry on audit fees is a decrease of those fees by 15%. While the study results indicate that audit fees significantly decrease (increase) when the client firm operates in the regulated energy industry (non-regulated industry), no impact of regulations on audit timeframe is reported.

Keywords / Tags

Key words: regulatory pressure, energy industry, audit risk, audit lag