Auditor Specialization, Auditor Dominance, and Audit Fees: the Role of Investment Opportunities
A report issued by the U.S. General Accounting Office (GAO) in 2003 identified auditors' industry expertise as a critical factor for firms choosing an auditor, and highlighted the extreme levels of auditor concentration in some industries. We posit that the investment opportunity set (IOS) plays a fundamental role in determining whether an industry is an attractive target for auditor specialization. When industryspecific IOS is high, specialist auditors make costly investments in...[Show more]
|Collections||ANU Research Publications|
|Source:||The Accounting Review|
|01_Cahan_Auditor_Specialization,_2008.pdf||1.72 MB||Adobe PDF||Request a copy|
Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.