Please use this identifier to cite or link to this item: https://ruomoplus.lib.uom.gr/handle/8000/1494
Title: The relationship between audit fees and audit committee characteristics: evidence from the Athens Stock Exchange
Authors: Drogalas, George 
Nerantzidis, Mihail 
Mitskinis, Dimitrios 
Tampakoudis, Ioannis 
Author Department Affiliations: Department of Business Administration 
Department of Accounting & Finance 
Department of Business Administration 
Department of Business Administration 
Author School Affiliations: School of Business Administration 
School of Business Administration 
School of Business Administration 
School of Business Administration 
Subjects: FRASCATI__Social sciences__Economics and Business__Accounting
FRASCATI__Social sciences__Economics and Business__Finance
Keywords: Audit committees
CG
Greek legislation
Audit expenses
Issue Date: 2021
Journal: International Journal of Disclosure and Governance 
ISSN: 1741-3591
1746-6539
Volume: 18
Issue: 1
Start page: 24
End page: 41
Abstract: 
Strengthening the audit committee is an increasingly important element in the agenda of academics, practitioners and policy-makers in their effort to improve the quality of financial information and to promote audit quality. In this research, we examine the relationship between audit committee characteristics and audit and non-audit fees paid to auditors throughout the first year of the implementation of Law 4449/2017 in Greece. Using a sample of 126 listed companies on the Athens Stock Exchange, we show that audit committee characteristics (i.e. AC size, frequency of meetings and the presence of at least one member with previous experience in a similar position) have a positive relationship with audit fees. Moreover, we find that board size is positively associated with audit fees, which means that the assignment of new roles to audit committees has not been realized to its full potential as recent Law 4449/2017 highlights. Finally, we present evidence that audit committees with a high percentage of members with previous experience in audit committees may be less willing to allow a disproportionate provision of non-audit services in relation to total fees. On that basis, our study offers insights to Greek legislators, auditors, boards and corporate governance scholars.
URI: https://doi.org/10.1057/s41310-020-00088-9
https://ruomoplus.lib.uom.gr/handle/8000/1494
DOI: 10.1057/s41310-020-00088-9
Corresponding Item Departments: Department of Business Administration
Department of Accounting & Finance
Department of Business Administration
Appears in Collections:Articles

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