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Audit fees and audit adjustments: evidence from Welsh local authorities

Baylis, Richard 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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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: 13 Dec 2017 01:39

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