In this study, the effect of audit committee characteristics on company value was investigated by considering the role of audit report delay in companies listed on the Tehran Stock Exchange. The statistical population of the present study was companies listed on the Tehran Stock Exchange, and the statistical sample was selected through the systematic elimination method from the statistical population. The statistical sample consisted of 183 companies in the period from 1397 to 1402 and was estimated based on the multiple regression model and the fixed effects method of the models. The results of the study showed that audit committee independence has a significant effect on the value of companies listed on the Tehran Stock Exchange, and this effect is positive and the effect rate is 0.41. The expertise of audit committee members has a significant effect on the value of companies listed on the Tehran Stock Exchange, and this effect is positive and the effect rate is 0.29. Audit report delay has a moderating role in the relationship between audit committee independence and the value of companies listed on the Tehran Stock Exchange, and this effect is reducing and its rate is -0.07. Audit report delay has a moderating role in the relationship between the expertise of audit committee members and the value of companies listed on the Tehran Stock Exchange, and this effect is a reducing effect and its magnitude is -0.07. However, the effect of audit committee size on company value and the moderating role of audit report delay in the relationship between audit committee size and company value were not confirmed.