The Association between Audit Fees and Auditors' Opinions on Internal Control Weakness under Section 404 of the Sox

• Main Authors: Choi, Jong-Hag, Kim, Jeong-Bon, Kwon, Soo Young, Zang, Yoonseok
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2007
• Subjects: Internal Control; Audit services; Audit fees; Sarbanes-Oxley Act; Business Law, Public Responsibility, and Ethics; Corporate Finance
• Online Access: https://ink.library.smu.edu.sg/soa_research_smu/2; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1001&context=soa_research_smu
• Institution: Singapore Management University

The Section 404 of Sarbanes-Oxley Act (SOX) requires top management to establish, maintain, and regularly evaluate the effectiveness of the internal control over financial reporting (ICOFR), and obtain an auditor’s attestation. In this paper, we identify 232 firms that received “Ineffective” audit o...