Purpose

This study examines the contemporaneous changes in the reporting regime in Nigeria by investigating the effect of regulatory changes on audit fees as well as the moderating effect of overlapping directorship and financial reporting quality.

Design/methodology/approach

This study utilises a longitudinal sample of 409 firm-year observations, from 2008 to 2013, of nonfinancial companies listed on the Nigerian stock exchange. The study uses the general method of moments (GMM) to control for endogeneity concerns.

Findings

The results reveal that, without the moderating effect of overlapping directorship and financial reporting quality, the relationship between regulatory changes and audit fees is positive but weak, which suggests that regulatory changes drive cost. Similarly, the interaction of overlapping directorship did not reverse the positive relationship, which suggests the perceived risk associated with overlapping directorship. However, the improvement in financial reporting quality reverses the relationship, as evidenced by the negative and significant coefficient on the interacted terms.

Practical implications

This study provides useful insights about committee membership overlap to regulatory authorities concerning the weakness of the monitoring ability of such committees.

Originality/value

The results of this study contribute to the growing literature on regulatory reform, audit fees and corporate governance. Specifically, the study provides empirical evidence on the effect of committee overlap on audit fees, which, to the best of the researchers' knowledge, has received no empirical attention in the Nigerian context.

中文翻译：

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法规变更和审计费用：重叠的董事职务和财务报告质量的调节作用

目的

本研究通过调查监管变更对审计费用的影响以及重叠的董事职务和财务报告质量的调节作用，研究了尼日利亚报告制度的同期变化。

设计/方法/方法

这项研究使用了从2008年到2013年在尼日利亚证券交易所上市的非金融公司的409家公司年观察的纵向样本。该研究使用一般矩量法（GMM）来控制内生性问题。

发现

结果表明，在没有重叠的董事职务和财务报告质量的调节作用的情况下，监管变动与审计费用之间的关系是积极的但微弱的，这表明监管变动会驱动成本。同样，重叠的董事职务的互动并没有扭转正相关关系，这表明与重叠的董事职务有关的感知风险。但是，财务报表质量的改善扭转了这种关系，这在交互条件上具有负系数和显着系数即可证明。

实际影响

这项研究提供了有关委员会成员与监管机构重叠的有用见解，涉及此类委员会的监督能力的弱点。

创意/价值

这项研究的结果为有关监管改革，审计费用和公司治理的文献不断增加做出了贡献。具体而言，该研究提供了有关委员会重叠对审计费用的影响的经验证据，就研究人员所知，审计费用在尼日利亚范围内未受到任何经验关注。