First-time Adoption of Thai Financial Reporting Standards and the Determination of Audit Fees: Empirical Evidence from Thailandetermination of Audit Fees: Empirical Evidence from the Stock Exchange of Thailand
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Abstract
The objective of this study is to examine the total and separate impacts of the first-time adoption of Thai Financial Reporting Standards (TFRSs) on the determination of audit fees. This study focuses on the two TFRSs: TFRS 9 Financial Instruments and TFRS 16 Leases which were announced by Thailand Federation of Accounting Professions (TFAC) that an entity could choose to apply beginning on or after 1 January 2020. The samples, totaling 429 companies, in this study were selected from listed companies on the Stock Exchange of Thailand. All necessary information was collected from financial statements and annual reports in 2020, and the main inferential statistics used in this study was Multiple Regression. The results indicated that the effects of the first-time adoption of TFRS 9 and TFRS 16 on the determination of audit fees were not statistically significant. Moreover, when studying the effects of these two TFRSs separately, the results also showed that the effects of the first-time adoption of TFRS 9 on the determination of audit fees were not statistically significant. Nevertheless, the effects of the first-time adoption of TFRS 16 on the determination of audit fees were statistically significant for the companies with the decrease in net assets at the beginning of the year but were not statistically significant for those with the increase in net assets. This study is the first in Thailand to explore the impacts of the first-time adoption of specific TFRSs on the determination of audit fees.
Article Details
เนื้อหาและข้อมูลในบทความที่ลงตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นข้อคิดเห็นและความรับผิดชอบของผู้เขียนบทความโดยตรงซึ่งกองบรรณาธิการวารสารไม่จำเป็นต้องเห็นด้วยหรือร่วมรับผิดชอบใด ๆ
บทความ ข้อมูล เนื้อหา รูปภาพ ฯลฯ ที่ได้รับการตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นลิขสิทธิ์ของวารสารสภาวิชาชีพบัญชี หากบุคคลหรือหน่วยงานใดต้องการนำข้อมูลทั้งหมดหรือบางส่วนไปเผยแพร่ต่อหรือเพื่อกระทำการใดๆ จะต้องได้รับอนุญาตเป็นลายลักษณ์อักษรจากวารสารสภาวิชาชีพบัญชี ก่อนเท่านั้น
References
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