Articlegreen2023

Audit partner gender and the COVID-19 pandemic: the impact on audit fees and key audit matters

24 citations0/0 files storedJournal of financial reporting & accounting

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Auditing, Earnings Management, Governance Accounting and Financial Management Corporate Governance and Financial Management

Abstract

Purpose The purpose of this study is to analyze the influence of the COVID-19 pandemic on audit fees and the reporting of key audit matters (KAMs). Additionally, this study also looks into potential differences in the behavior of male and female audit partners during this period, adding to the existing research on gender's effect on different elements of the audit process. Design/methodology/approach This study used a sample of all FTSE 350 firms from before the COVID-19 pandemic and during the pandemic. It analyzed the data using Ordinary Least Squares regression analysis to test its hypotheses. Findings This paper provides early evidence on the impact of the COVID-19 pandemic on audit fees and KAM disclosures in the UK. The results of this study show an increase in audit fees during the pandemic and greater detail in the reporting of KAMs, with no significant difference between male and female audit partners. These findings will be of interest to audit firms and regulators as they assess the performance of auditors during the pandemic and evaluate the expanded audit report's effectiveness in providing sufficient information to financial statement users. Originality/value This study provides first-of-its-kind empirical evidence on how auditors in the UK reacted to the COVID-19 pandemic. The findings of this study will be of interest to audit firms, regulators, such as the Financial Reporting Council, and other stakeholders as they evaluate the performance of auditors during the crisis period. The results will help regulators assess the effectiveness of the expanded audit report in providing sufficient information during a time of heightened risk and scrutiny.

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References

1992The Cross-Section of Expected Stock Returns 2009Gender Differences in Preferences 1980The Pricing of Audit Services: Theory and Evidence 1998ARE WOMEN MORE RISK AVERSE?2003The female leadership advantage: An evaluation of the evidence 2006Audit Fees: A Meta‐analysis of the Effect of Supply and Demand Attributes*1997Gender differences in risk behaviour in financial decision-making: An experimental analysis 2001Auditors' Perceived Business Risk and Audit Fees: Analysis and Evidence

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2025Women in accounting research: a review of gender diversity, equity and inclusion 2024Cultural dynamics and tenure trajectories: how auditor tenure and culture influence key audit matters in the GCC 2024How female leadership and auditor affiliations shape audit fees: evidence from Egypt 2024Navigating uncertainty: the role of auditor demographics in key audit matters reporting amid COVID-19 in Egypt

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