Examining audit fees and perceived risk during the financial crisis

Document Type : Original Article


M.A. in Public Administration (Budget and Public Finance), Payam Noor University, Saveh, Iran


The escalation of the global economic and financial crisis, despite the fact that several years have passed since the beginning of the crisis, is still hitting the economies of countries. The financial crisis of 2008 has had a severe effect on the global economy. Contrary to previous accounting scandals, the auditing profession has remained relatively silent in the face of this crisis. Auditors' response to the financial crisis and the perceived audit risk during the financial crisis may vary. The financial crisis reveals systemic risks that are not well understood by auditors in non-critical periods, and these risks are significantly lower in non-critical periods. This study examines audit fees and perceived risk during the financial crisis. This research has been conducted on 99 companies listed on the Tehran Stock Exchange during the period 2008-2017. The research hypotheses were tested using Eviews software. The results showed that the financial crisis has a significant effect on audit fees and the restatement of financial statements during the financial crisis does not have a significant effect on audit costs.


Main Subjects

Volume 2, Issue 1
March 2019
Pages 103-119
  • Receive Date: 27 January 2019
  • Revise Date: 15 February 2019
  • Accept Date: 04 March 2019