... audit fees auditing pricing of audit services client business risk audit risk bankruptcy risk We use audit fees to measure the auditors' level of engagement risk. Higher engagement risk increases audit fees because auditors exert greater effort to mitigate the risk, or charge a fee premium...

.... Collectively, the study's results provide initial evidence suggesting that the audit fee disclosure is a leading indicator of the operating performance dimension of clients' business risk. Data Availability: Data are available from public sources cited in the text. Jonathan D. Stanley...