Financial Restatement, Audit Fees and after
Audit change: empirical evidences on Brazilian listed companies
Name: CAROLINI VERDAN BRANDÃO OLIVEIRA
Type: MSc dissertation
Publication date: 25/07/2022
Advisor:
Name |
Role |
|---|---|
| VAGNER ANTONIO MARQUES | Advisor * |
Examining board:
| Name |
Role |
|---|---|
| JOSE ELIAS FERES DE ALMEIDA | Internal Examiner * |
| VAGNER ANTONIO MARQUES | Advisor * |
Summary: This study aimed to verify the association between the financial restatements, the change of the
auditor and the audit fees of listed companies in Brasil, Bolsa, Balcão (B3). Data from 323
non-financial companies (2701 firms/years), from 2010 to 2020, were analyzed through
descriptive statistics, tests of differences between means, correlation analysis and regression
with panel data using Software R . The results showed that companies that restated their
financial statements tended to pay higher fees in the next year, in line with previous research
that attributed the increase to "risk premium" charged by the auditor. Additionally, the change
of auditor, type of audit firm, corporate governance segment and size of the company proved
influential in the fees paid. The results also showed that companies that restated the financial
statements and spended more with auditing are less likely to change the auditor voluntarily.
Furthermore, the research showed that ROE volatility influences exchange decisions. The study
has the potential to contribute with investors, auditors, regulators, members of audit and
governance boards, as it presents evidence of potential empirical implications of resubmissions
on subsequent audit contracts.
