Análisis de la Influencia de la Función de Auditoría Interna sobre las Cuotas de Auditoría

Abstract

The aim of this paper is to analyse the relationship between the internal audit function and auditor's fees using a sample of Spanish listed companies between 2003 and 2011. We use the audit fees model that was proposed by Simunic (1980). Our results indicate that fees are greater in those companies that have an internal audit function. In addition, if there are meetings between the audit committee and the internal audit function, this is statistically significant with audit fees. This paper contributes to literature in several ways. Firstly, there are no previous papers in Spain, unlike other contexts, on the relationship between internal audit and auditor fees. Secondly, the empirical results detected in previous studies are conflicting; therefore, there is a need to complement them. Finally, the findings have practical implications for companies, external auditors and regulatory agencies themselves. El objetivo de este trabajo es analizar la relación existente entre la función de auditoría interna y los honorarios del auditor sobre una muestra de empresas que cotizan en el mercado continuo español entre 2003 y 2011. Utilizando el modelo de honorarios de auditoría propuesto por Simunic (1980), los resultados indican que los honorarios de auditoría son mayores en aquellas compañías que cuentan con la existencia de un departamento de auditoría interna. Asimismo, la existencia de reuniones entre el comité de auditoría y la función de auditoría interna es estadísticamente significativa con los honorarios. Este estudio contribuye a la literatura de diversas formas. En primer lugar, no existen trabajos anteriores en España, a diferencia de otros contextos, sobre la relación entre auditoría interna y honorarios. En segundo lugar, los resultados empíricos detectados en estudios previos resultan contradictorios por lo tanto lleva a la necesidad de complementarlos. Finalmente, los resultados tiene implicaciones prácticas para la empresa, los auditores externos y los propios organismos reguladores.

Internal audit function, audit report lag and audit fee: evidence from the early stage of COVID-19 pandemic

“…From the examination, it is suggested that one of the proxies of the internal audit function, namely the size of internal audit personnel within the firm, increases audit fee. Similarly, a study from Sierra-García et al . (2019) revealed that a good-quality internal audit function has a significant positive relationship with audit fees.…”

“…The contribution of the internal audit function strengthens a significant negative relationship between the good-quality internal audit function and the audit fee. Likewise, a study conducted by Sierra-García et al . (2019) found that audit fees increased significantly when the firm had an internal audit function.…”

“…The contribution of the internal audit function strengthens a significant negative relationship between the good-quality internal audit function and the audit fee. Likewise, a study conducted by Sierra-Garc ıa et al (2019) found that audit fees increased significantly when the firm had an internal audit function. On the other hand, Prawitt et al (2011) and Mohamed et al (2012) found the opposite result: the internal audit function is negatively related to audit fees.…”

“…As a result, it can help the work of the external auditor (Hay et al ., 2008; Mohamed et al ., 2012). On the other hand, if the internal auditor position is considered as a complement, then firms that have an internal audit function are committed to wanting their firm value are high so that they tend to increase the demand for external auditor services (Hay et al ., 2008; Sierra-García et al ., 2019).…”

“…However, according to Juwita et al (2020), internal audit has no relationship with audit report lag. Moreover, Mat Zain et al (2015); Sierra-Garc ıa et al (2019) and Dzikrullah et al (2020), found that the internal audit function has a significant positive relationship with audit fees. Nevertheless, Prawitt et al (2011) and Mohamed et al (2012) found opposing results, revealing that internal audit function is negatively related to audit fees.…”