Anti-Money Laundering Disclosure, Income Shifting, Litigation Risks and Audit Fees: Evidence from Financial Institutions

Abstract

The thesis consists of three essays addressing challenges faced by financial institutions in Australia and China, focusing on income shifting, anti-money laundering (AML) disclosure, audit pricing, and litigation risk. It examines how income shifting impacts audit fees in Australian firms and how AML disclosure affects litigation risk and audit fees in Chinese institutions. The essays highlight the economic consequences of tax crime, money laundering, and related financial secrecy across both countries.