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by Max Choi, Dr. Rudolph Jacob and Dr. Susanne O'Callaghan *
The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), was passed in response to the financial crisis of 2007-2009. The purpose of this exploratory study is to examine whether the Dodd-Frank Act resulted in significantly different audit fees for the largest thirty publicly traded oil and gas companies based in the United States. Our results indicate that there has not been a significant difference in audit fees for the largest oil and gas companies from pre 2010 to post 2011, due to this Act.Like other major financial reform legislation that came before it, the Dodd-Frank Act was passed and signed into law in the aftermath of a financial crisis, the Great Recession of 2007-2009.
* The authors are respectively internal audit and budgeting intern at Towson College, Professor at Pace University, Lubin School of Business, and Professor at Pace University, Lubin School of Business.
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