TY  - JOUR
T1  - The Impact of Financial Reporting Standard 139 Financial Instruments: Recognition and Measurement on Audit Fees
AU - The, Boon Heng AU - Ng, Sin Huei AU - Soh, Wei Ni AU - Ong, Tze San 
JO  - The Social Sciences
VL  - 8
IS  - 6
SP  - 610
EP  - 617
PY  - 2013
DA  - 2001/08/19
SN  - 1818-5800
DO  - sscience.2013.610.617
UR  - https://makhillpublications.co/view-article.php?doi=sscience.2013.610.617
KW  - Financial reporting
KW  -audit fee
KW  -financial instruments
KW  -Malaysia
KW  -recognition and measurement
AB  - This study focuses the impact of mandatory adoption of Financial 
  Reporting Standard (FRS) 139 financial instruments: Recognition and measurement 
  on audit fees in Malaysia. This study examines the subjectivity and complexity 
  of fair value adoption towards the audit fees charged by auditors among public 
  listed companies in Malaysia. The study used the samples of 150 firms listed 
  on the Bursa Malaysia for the financial year ending 2009 and 2010 as mandatory 
  adoption of FRS 139 begin on or beginning of 1 January, 2010 in Malaysia. The 
  study found that adjustment for the re-measurement of financial instruments 
  in the beginning balance of retained earnings or equity upon adoption of FRS 
  139 is associated with changes in audit fees. Some new categories of financial 
  instruments that presented in the statement of financial position were found, 
  due to recognition of previously unrecognized financial instruments and reclassifications 
  to the new accounts, however this study found no changes in term of audit fees. 
  The fair value changes of financial instruments should be recognised in the 
  profit or loss upon adoption of FRS 139, the result shown that significant relationship 
  between the recognition of gain or loss for financial instrument and changes 
  in audit fees.
ER  -