Auditors' Perceived Business Risk and Audit Fees: Analysis and Evidence
利用一家大型国际会计师事务所对422项审计的保密调查数据，分析审计师感知的商业风险与审计费用的关系，发现高风险会增加审计工时，但不提高小时费率。
This study analyzes the relation between auditors' perceived business risk and audit fees to determine whether audit firms or their clients bear the expected legal costs of business risk. We predict that hourly audit fees and the number of audit hours are increasing in business risk. Using confidential survey data collected by a large international accounting firm for 422 audits, we find that high business risk increases the number of audit hours, but not the fee per hour. This implies that firms perceive firm‐level differences in business risk and obtain compensation through billing additional hours, not by raising the hourly charge.