The pricing of audit and non-audit services in a regulated environment: a longitudinal study of the UK life insurance industry

Klumpes, P. ORCID: 0000-0002-3357-6087, Komarev, I. and Eleftheriou, K., 2016. The pricing of audit and non-audit services in a regulated environment: a longitudinal study of the UK life insurance industry. Accounting and Business Research, 46 (3), pp. 278-302. ISSN 0001-4788

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Abstract

This paper studies the relationship between audit and non-audit service fees paid to the statutory auditor by UK life insurance firms, utilising an extensive panel data sample set for the period 1999-2009. Consistent with a knowledge spill over (impairment of independence) hypothesis, we predict and find that audit fees are positively (negatively) associated with actuarial (tax service) fees. Additionally, our results indicate that regulatory changes enforced after 2004 deterred UK life insurance firms from purchasing non-audit services that are perceived to impair auditor independence. Finally, we find evidence concerning the inter-temporal determination of audit fees.

Item Type: Journal article
Publication Title: Accounting and Business Research
Creators: Klumpes, P., Komarev, I. and Eleftheriou, K.
Publisher: Routledge
Date: 2016
Volume: 46
Number: 3
ISSN: 0001-4788
Identifiers:
NumberType
10.1080/00014788.2015.1056719DOI
Divisions: Schools > Nottingham Business School
Depositing User: Jonathan Gallacher
Date Added: 21 Jun 2016 14:51
Last Modified: 04 Oct 2017 10:25
URI: http://irep.ntu.ac.uk/id/eprint/27997

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