THE DETERMINANTS OF AUDIT FEES: SOME EMPIRICAL MODELS
基于英国大型上市公司1981-1988年数据，构建审计费用模型，发现客户规模和审计师变更（低价揽客效应）显著影响审计费用，并揭示了八大会计师事务所的市场角色。
This paper proposes a model of audit fee determination based upon size and other characteristics of the auditee and the auditor, and upon whether there has been a recent change of auditor (which might lead to a low‐balling effect). A novel feature of the model is that auditee size is measured in two dimensions, sales and assets, and is allowed to have a quadratic relationship with audit fee. The model was estimated for a sample of large listed UK companies for the years 1981 to 1988. The results support the low‐balling hypothesis and also provide insights into the distinctive role of the Big 8 firms in the audit market.