Audit fees and financial crisis: Evidence from the spanish manufacturing industries

• Bruno Almeida ^[1] ; Alexandre Silva ^[1]
  1. [1] Instituto Politécnico de Coimbra

     Instituto Politécnico de Coimbra

     Coimbra (Sé Nova), Portugal

     
• Localización: Contaduría y administración, ISSN 0186-1042, ISSN-e 2448-8410, Vol. 65, Nº. 1, 2020
• Idioma: inglés
• DOI: 10.22201/fca.24488410e.2020.1909
• Títulos paralelos:
  • Honorarios de auditoría y crisis financiera: evidencia de las industrias manufactureras españolas
• Enlaces
  • Texto completo (pdf)
• Resumen
  • español

    La crisis financiera internacional sumió a la economía española en una espiral descendente de 2008 a 2010, con siete períodos de recesión consecutivos. Durante este período, las empresas españolas enfrentaron problemas de crecimiento y liquidez y restricciones crediticias, lo que aumentó su riesgo comercial. La literatura internacional enfatiza que existe una relación entre el riesgo comercial y los honorarios de auditoría. Este estudio considera si existe una relación entre el tiempo (el período de tres años en que la recesión española fue mayor y el siguiente período de tres años) y los honorarios de auditoría. Analizamos los estados financieros y los honorarios anuales de auditoría, obtenidos de la base de datos SABI-Bureau Van Dijk, de 2008 a 2013, cobrados por auditores a 119 empresas manufactureras. Los resultados obtenidos, a pesar de las correlaciones positivas y negativas entre los honorarios de auditoría y otras variables de nuestro modelo, no son totalmente concluyentes ni consistentes. Señalan una relación tenue entre el tiempo y los honorarios de auditoría, corroborando parcialmente la realidad estadounidense, pero no los estudios realizados en Australia, China, Suecia y Corea del Sur.

  • English

    The international financial crisis plunged the Spanish economy in a downturn spiral from 2008 to 2010, with seven consecutives recession periods. During this period, Spanish companies faced growth and liquidity problems and credit constrains, which increased their business risk. The international literature emphasizes that there is a relationship between business risk and audit fees. This study considers if there is a relationship between time (the three years period when Spanish recession was higher and the following three-year period) and audit fees. We analyzed the financial statements and annual audit fees, obtained from SABI-Bureau Van Dijk database, from 2008 to 2013, charged by auditors to 119 manufacturing companies. The results obtained, despite positive and negative correlations between audit fees and other variables of our model, are not totally conclusive neither consistent. They point out to a tenuous relationship between time and audit fees, partially corroborating the American reality, but not the studies made in Australia, China, Sweden and South Korea

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