Does Audit Committee Training Increase Audit Effort?
研究了审计委员会培训的决定因素及其后果，发现培训增加会带来更高的审计费用和审计工时，表明培训能促使审计委员会要求更严格的审计。
Extensive literature has examined audit committee (AC) characteristics, including members’ prior experience and qualifications. However, much of this research uses static proxies for human capital, overlooking the potential for AC members to enhance their skills over time. In this study, we examine both the determinants and consequences of AC training. Regarding determinants, we find that the frequency of training sessions in the following year is higher in companies that have more active ACs, are larger, undergoing leadership changes, or facing greater financial reporting risk. Increased AC training is associated with higher audit fees and audit hours in the following year, particularly at partner and senior auditor levels. This suggests that better‐trained ACs may demand more thorough and rigorous audits. These effects are more pronounced among AC members who hold CPA certifications, receive external training, and complete training prior to the fiscal year‐end. Overall, our findings contribute to the literature on AC effectiveness by highlighting the dynamic nature of human capital and underscoring the importance of ongoing professional development.