Actions by both private sector organizations and legislators in recent years have highlighted the importance of the audit committee of the board of directors of corporations in the financial reporting process. For example, the Sarbanes Oxley Act of 2002 has multiple sections that deal with the...

Recent actions by regulators and legislators reflect the belief that compliance with Section 404 of SOX is quite costly for non-accelerated filers. In this paper, we examine (a) the associations between the presence and remediation of internal control problems and audit fees for non-accelerated...

In this study we examine audit fees for SEC registrants that remediate previously disclosed material weaknesses in internal control. We find that remediating firms have lower audit fees when compared to firms that continue to report material weaknesses in internal control. However, the...