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Audit Quality and Audit Premium:in Both Brand Name Reputation and Industry Specialist Perspectives
Yung - Yu Lai,
The Overseas Chinese Institute of Technology
Chiaju Kuo, National Taichung Institute of Technology
ABSTRACT: This study examines audit quality and audit premium with regard to private universities and colleges in Taiwan in both brand name reputation and industry specialist perspectives. The empirical evidence shows that differences in audit fee charges may attribute to fee premium for specialist Big 4, and so provide additional evidences to sustain auditor brand name reputation premium and industry specialist effects. More importantly, this is the first study focused on audit quality used both real audit reports and financial statements with regard to private universities and colleges in Taiwan. We can infer audit qualities provide by successor specialist auditors are more superior than that provide by non-specialist auditors. Additional evidence gives support to the argument that specialist auditors are more adept than non-specialists not only at detecting errors but also at interpreting an incomplete pattern that suggests a misstatement.
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