The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia

This thesis examines the effects of International Financial Reporting Standards (IFRS) adoption on audit fees and audit timeliness in Malaysia. In particular, there are six (6) objectives of the study: to explore whether there is an increase of audit fees and audit delay pre- and post- adoption of I...

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Main Author:	Najihah Marha, Yaacob
Format:	Thesis
Language:	eng
Published:	2011
Subjects:	HF5601-5689 Accounting
Online Access:	https://etd.uum.edu.my/3458/1/s91915.pdf
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id	my-uum-etd.3458
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng
advisor	Che Ahmad, Ayoib
topic	HF5601-5689 Accounting
spellingShingle	HF5601-5689 Accounting Najihah Marha, Yaacob The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia
description	This thesis examines the effects of International Financial Reporting Standards (IFRS) adoption on audit fees and audit timeliness in Malaysia. In particular, there are six (6) objectives of the study: to explore whether there is an increase of audit fees and audit delay pre- and post- adoption of IFRS; to determine the effect of the number of IFRS adopted on audit pricing and audit delay. This study also examines the influence of both the adoption of FRS 138 and the voluntary adoption of FRS 139 on audit fees and audit delay. Finally, the thesis also investigates the influence of audit delay on audit fees, and tests the moderating effect of brand name auditors on the relationship between the number of IFRS adopted, FRS 138 adoption and FRS 139 voluntary adoption on audit pricing and audit timeliness. The sample of this study consists of 3,050 firm-year observations from 2004 to 2008. Panel data analysis is utilized and the panel regression results reveal that audit fees and audit delay increase significantly after IFRS adoption and that companies that adopted a higher number of IFRS are charged higher audit fees and it takes a longer time to complete the audit report. The findings also indicate that adoption of FRS 138, as a complex standard, increases the audit fees and lengthens audit delay. Moreover, the results provide support to the brand name theory in that the Big 4 auditors charge higher audit fees to companies that adopt a higher number of IFRS and FRS 138. This study contributes to the literature on whether the complexity of IFRS has an implication on audit works. Furthermore, the findings provide valuable input for the Malaysian Institute of Accountants (MIA) to consider a revision of the MIA By-Laws.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Najihah Marha, Yaacob
author_facet	Najihah Marha, Yaacob
author_sort	Najihah Marha, Yaacob
title	The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia
title_short	The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia
title_full	The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia
title_fullStr	The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia
title_full_unstemmed	The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia
title_sort	effect of international financial reporting standards (ifrs) adoption on audit pricing and audit timeless : evidence from malaysia
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2011
url	https://etd.uum.edu.my/3458/1/s91915.pdf
_version_	1776103618540208128
spelling	my-uum-etd.34582023-01-24T01:09:01Z The Effect of International Financial Reporting Standards (IFRS) Adoption on Audit Pricing and Audit Timeless : Evidence from Malaysia 2011-11 Najihah Marha, Yaacob Che Ahmad, Ayoib Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HF5601-5689 Accounting This thesis examines the effects of International Financial Reporting Standards (IFRS) adoption on audit fees and audit timeliness in Malaysia. In particular, there are six (6) objectives of the study: to explore whether there is an increase of audit fees and audit delay pre- and post- adoption of IFRS; to determine the effect of the number of IFRS adopted on audit pricing and audit delay. This study also examines the influence of both the adoption of FRS 138 and the voluntary adoption of FRS 139 on audit fees and audit delay. Finally, the thesis also investigates the influence of audit delay on audit fees, and tests the moderating effect of brand name auditors on the relationship between the number of IFRS adopted, FRS 138 adoption and FRS 139 voluntary adoption on audit pricing and audit timeliness. The sample of this study consists of 3,050 firm-year observations from 2004 to 2008. Panel data analysis is utilized and the panel regression results reveal that audit fees and audit delay increase significantly after IFRS adoption and that companies that adopted a higher number of IFRS are charged higher audit fees and it takes a longer time to complete the audit report. The findings also indicate that adoption of FRS 138, as a complex standard, increases the audit fees and lengthens audit delay. Moreover, the results provide support to the brand name theory in that the Big 4 auditors charge higher audit fees to companies that adopt a higher number of IFRS and FRS 138. This study contributes to the literature on whether the complexity of IFRS has an implication on audit works. Furthermore, the findings provide valuable input for the Malaysian Institute of Accountants (MIA) to consider a revision of the MIA By-Laws. 2011-11 Thesis https://etd.uum.edu.my/3458/ https://etd.uum.edu.my/3458/1/s91915.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Abbott, L.J., Parker, S., Peters, G.F., & Raghunandan, K. (2003). An empirical investigation of audit fees,non-audit fees and audit committees. Contemporary Accounting Research , 20(2), 215-234. Abdelsalam, O.H., & El-Masry, A. (2008). The impact of board independence and ownership structure on the timeliness of corporate internet reporting of Irish listed companies. Managerial Finance, 34(12), 907-918. Abdelsalam, O.H., & Street, D.L. (2007). 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