En undersøgelse af børsnoterede selskabers revisionshonorar i perioden 2002-2009

Carsten Andersen

Studenteropgave: Kandidatafhandlinger


This thesis examines audit fees paid by 1.205 companies listed on the Copenhagen Stock Exchange in the period 2002-2009. During this period several different conditions might have affected the audit fee. During the last 25 years similar studies have been conducted mainly in the US, the UK, Australia and Hong Kong. In Denmark, though, only one well-known study has been conducted on the subject, and the study limited its research to include only the audit fees paid by 126 nonfinancial companies listed on the Copenhagen Stock Exchange in a sole year, 2002. To insure valid conclusions this study takes on a broadened approach, both in terms of the number of companies represented in the data research as in the timeframe from which conditions such the implementation of regulatory changes must be analysed over time, as the effect is believed to evolve gradually. The objective of this study is to highlight whether these conditions have affected the audit fee in either a significant increasing or decreasing direction in the period 2002-2009. All listed companies in Demark were required to use two independent auditors until 2005, where this regulation was abolished. As a result of this several companies decided to use only one independent auditor the effect on the audit fee regarding this is examined in this thesis. In Denmark, many listed company s uses a Big Four audit firm, this study test whether the appointment of a Big Four auditor is associated with higher audit fees, which is a result in many similar studies. The provision of other services delivered by the same auditor responsible for the audit might lead to an association between the audit fee and the fee charged for other services. The audit firms might provide the companies with a discount on the audit if they acquire other services for large sums. This association would be a problem regarding the auditor s independence act provision. Whether other services affect audit fees is another subject of analysis in this study. Furthermore conditions such as differences in the physical location of the company, new auditor, financial year and implementation of international standards (IFRS and ISA) are examined in this thesis. First off, each condition is defined by a hypothesis including the expected outcome of the analysis. Secondly the analysis method I will use to test my hypothesis is described. The analysis method used is multivariate regression, where I use a core audit determinants model. Each hypothesis is tested with a variable in the model. The analysis is based on data (variables) collected from corporate databases2. These data will be tested to finally conclude which conditions affect the audit fee for the listed companies in Denmark, and whether the fee is affected in a significant direction.

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
Antal sider99