© D.L. Crumbley
Companies that consist solely of independent directors and meet at least four times a year are likely to have lower non-audit service fees.
L.J. Abbott et.al, “An Empirical Investigation of Audit Fees, Non-Audit Fees, and Audit Committees,” Contemporary Accounting Research, Summer, 2003, p. 230.
An auditor who is also an industry specialist further enhances the credibility of accounting information (e.g., less earnings management).
G.V. Krishnan, “Does Big 6 Auditor Industry Expertise Constrain Earnings Management?” Accounting Horizons, Vol. 17, Supplement 2003, p. 15.