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Determinants of Audit Fees: Evidence from Pharmaceutical and Chemical Industry of Bangladesh

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Determinants of Audit Fees: Evidence from Pharmaceutical and Chemical Industry of Bangladesh


Md. Noor Hossain | Raihan Sobhan



Md. Noor Hossain | Raihan Sobhan "Determinants of Audit Fees: Evidence from Pharmaceutical and Chemical Industry of Bangladesh" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1, December 2019, pp.814-821, URL: https://www.ijtsrd.com/papers/ijtsrd29656.pdf

The main objective of this study is to find out the factors that determine the audit fees in the listed pharmaceuticals and chemicals companies of Bangladesh. The study is conducted on 21 listed companies in the pharmaceuticals and chemicals industry during the period of 2015 to 2018. Client characteristics (client size, leverage and return on assets), client’s governance structure (independent directors and audit committee) and firm ranking are taken as the proxy variables of the determinants of audit fees. The study has found that client size, leverage and firm ranking have positive and significant impact on audit fees of the sample firm. On the other hand the proportion of independent directors in the board has a negative and significant impact on audit fees. However, the study did not find any significant association between audit fees and return on assets. It is suggested that policymakers should include more independent directors in the board for ensuring better governance to reduce the external audit fees. Besides, in case of maintaining obligatory audit committee, companies should consider the efficiency and effectiveness of the committee.

Audit Fees; Independent Directors; Audit Committee; Financial Statements; Pharmaceutical and Chemical Industry


IJTSRD29656
Volume-4 | Issue-1, December 2019
814-821
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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