ABSTRACT

This empirical research uses panel data methodology to find the main factors determining Spanish audit quality. on a sample with more than 60,000 audited companies from 2013 to 2018. Prior to analysing the quality of the audit, we have adjusted the best possible model to the audit fees behaviour in order to extract the abnormal fees. Our dynamic model shows that audited company’s size, the previous year’s audit fees, the years with the same audit firm, the auditor’s opinion, the auditor rotation, the concentration or dedication to the client and the client sector are explanatory factors of audit fees. Further, we find evidence that audit quality improves with number of hours billed for audit work and decreases with sector concentration of auditor and, a novel multiplicative effect, the auditor size by abnormal audit fees, in such a way that the surcharge (abnormal fees) of the big audit firms contribute negatively to improve the audit quality.

摘要

本实证研究使用面板数据方法来找出决定西班牙审计质量的主要因素。以2013-2018年超过6万家被审计公司为样本。在分析审计质量之前，我们针对审计收费行为调整了最佳模型，以提取异常收费。我们的动态模型表明，被审计公司的规模、上一年度的审计费用、与同一家会计师事务所合作的年份、审计师的意见、审计师轮换、对客户和客户部门的专注或奉献是审计费用的解释因素。此外，我们发现有证据表明，审计质量随着审计工作计费的小时数而提高，随着审计师的部门集中度而降低，以及一种新的乘法效应，审计师规模受异常审计费用的影响，