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Litigation Risk, Audit Fees and the Financial Crisis Impact: Empirical Evidence from the UK

In: Business Under Crisis Volume I

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  • Panagiotis E. Dimitropoulos

    (University of Peloponnese)

Abstract

The purpose of this chapter is to provide empirical evidence regarding the impact of litigation risk on audit and non-audit fees during and after the 2008 financial crisis (FC). The study adopts a panel cross-sectional regression model in order to analyze the cost structure of the audit and non-audit fees. A total of 93 non-financial companies listed on the London Stock Exchange (LSE) are chosen as a sample in this study. The empirical results of this research suggest that the litigation risk during the FC period do not influence the level of both auditing and non-auditing fees in the UK. But after the FC period, clients have exerted the fee pressure on their auditors to limit the non-auditing service fee payments.

Suggested Citation

  • Panagiotis E. Dimitropoulos, 2022. "Litigation Risk, Audit Fees and the Financial Crisis Impact: Empirical Evidence from the UK," Palgrave Studies in Cross-disciplinary Business Research, In Association with EuroMed Academy of Business, in: Demetris Vrontis & Alkis Thrassou & Yaakov Weber & S. M. Riad Shams & Evangelos Tsoukatos & Leonidas (ed.), Business Under Crisis Volume I, chapter 3, pages 41-61, Palgrave Macmillan.
    • Handle: RePEc:pal:pscchp:978-3-030-76567-5_3
    DOI: 10.1007/978-3-030-76567-5_3
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