Analysis of Audit Fee Disclosures and Factors Influencing Size of Audit Fees among Nasdaq Omx Baltic Listed Companies

Abstract

The paper analyses what is the level of audit fee disclosure among the companies listed in Nasdaq OMX Baltic and what are the factors influencing the amount of audit fee. Analysis revealed that 43.94Â % of listed companies had disclosed and 31.82Â % of the companies had never disclosed their audit fees during all analized period of 2008““2013. Even in 2013, when such disclosure became compulsory according to IFRS requirements, 36.36Â % of companies retained their undisclosure practices. The factors having direct impact on audit fee of Baltic listed companies are firm size, risk and audit by Big 4 audit company. Reverse impact on the size of audit fee is determined by belonging to the industry, firm“™s profit and the change of an auditor.