Audit fees and audit adjustments: evidence from Welsh local authorities

Baylis, Richard ORCID: https://orcid.org/0000-0003-0080-647X and Greenwood, Margaret 2016. Audit fees and audit adjustments: evidence from Welsh local authorities. Public Money & Management 36 (5) , pp. 357-364. 10.1080/09540962.2016.1194083

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Abstract

This paper exploits the availability of pre-audit financial statements to investigate the scale and incidence of audit adjustments and their impact on audit fees in Welsh local authorities. Adjustments to the politically-sensitive general fund, which represent a significant proportion of all adjustments, are associated with increased audit fees. The authors also found that audit adjustments on average result in more conservative reporting of the surplus/deficit and the balance on the general fund, with the number and value of downward adjustments exceeding those of upward movements.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > HJ Public Finance
Publisher:	Routledge
ISSN:	0954-0962
Date of First Compliant Deposit:	4 April 2016
Date of Acceptance:	22 November 2015
Last Modified:	20 Nov 2024 11:30
URI:	https://orca.cardiff.ac.uk/id/eprint/88595

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