This study uses inclusion in the SSE Corporate Governance Sector as a proxy for corporate governance to
empirically investigate the relationship between corporate governance and audit fees after controlling for the other main factors associated with audit fees. Compared to the proxies used in most of the recent literature,
the proxy used here is more comprehensive, authoritative and easily understood, and it is also easily collected.
If a relationship between corporate governance and audit fees is confirmed, listed firms may use such confirmation
in the future to negotiate audit fees with accounting firms, which is one of the main innovations and
contributions of this study.