Fina Adelia

Type of article: Research Article

Abstract
This study aims to investigate the determinants of audit delay among real estate and property companies listed on ASEAN stock exchanges during the 2020–2025 period. Although the timely issuance of financial reports is important for attracting investor confidence and helping firm transparency, prior empirical evidence on the determinants of audit delay in the ASEAN context remains inconclusive. Drawing on Agency Theory, Signaling Theory, and Institutional Theory, this study examines whether audit fees, profitability, audit tenure, audit opinion, audit committee expertise, auditor reputation, and firm size influence the existence of audit delay.
This study uses panel data from Refinitiv Eikon and company annual reports, including 254 companies and 1,524 company-year observations. A Random-Effects Logistic Regression model, which accounts for the panel data structure and unobserved heterogeneity across companies, is used for hypothesis testing because the dependent variable is dichotomous.
The findings conclude that while profitability, audit tenure, and audit committee skill do not significantly influence audit delay, audit fees, audit opinions, auditor reputation, or firm size do. These results suggest that audit-process variables are more important in predicting audit timeliness than corporate governance procedures or performance characteristics.
By providing cross-national empirical data from the ASEAN region, this study contributes to the expanding literature on audit delays. Additionally, by enhancing audit quality and implementing more efficient financial reporting procedures, the findings provide regulators and industry professionals with useful recommendations to improve financial reporting timeliness.

Acknowledgment
The authors gratefully recognise the financial assistance provided by the Institute for Research and Community Service (LPPM), Universitas Andalas, under the Flagship Research Scheme (PUJK), Batch I, through Contract No. 295/UN16.19/PT.01.03/PTM/2024. The authors also express their sincere appreciation to the Faculty of Economics and Business, Universitas Andalas, for the institutional funding and accommodations that supported the successful completion of this study.