作者：Doogar, Rajib; Sivadasan, Padmakumar; Solomon, Ira
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：The replacement of Auditing Standard No. 2 (AS2) by Auditing Standard No. 5 (AS5) creates a natural experiment that sheds light on (1) potential inefficiencies caused by regulatory responses to a political crisis and (2) audit efficiency and effectiveness improvements resulting from the risk-based approach embodied in AS5. We study these effects by examining the impact of AS5 on audit fees. We find that AS5 audit fees are aligned with auditee fraud risk, but not AS2 audit fees. Second, relativ...
