Analysis reveals that TCFD adoption increases audit fees in Taiwanese firms, indicating implications for disclosure complexity and specialized auditing.
This study examines how signing the TCFD framework impacts audit fees, using 8,535 Taiwanese firms from 2015 to 2022. To address sample selection bias, Propensity Score Matching is applied. Results reveal a significant positive relationship between TCFD adoption and audit fees, driven by disclosure complexity and specialized auditing expertise. This research offers insights into firms, regulators, and practitioners on the cost implications of climate-related disclosures and audit pricing.
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J Wang (2025) studied this question.
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