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Audit Firm Tenure and Audit Quality: Evidence from U.S. Firms
SSRN Electronic Journal, 2012PCAOB recently solicits comments on a 10-year mandatory audit firm rotation for the largest 100 S&P firms. We propose that audit quality is likely to increase with audit firm tenure due to a dominant Learning Effect in earlier years and decrease with audit firm tenure due to a dominant Bonding Effect in later years.
Li Zheng Brooks +2 more
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An examination of the influence of mutual CFO/audit firm tenure on audit quality
Journal of Accounting and Public Policy, 2021Abstract This study examines whether the extent of professional relationships between an audit firm and their client’s CFO influences audit quality. If regulators’ concerns that the relationship that develops over time between an audit firm and their client’s CFO impairs auditor judgment are justified, then we should observe a negative relationship ...
Jeff L. Payne, Russell Williamson
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Audit Firm Tenure and Fraudulent Financial Reporting
AUDITING: A Journal of Practice & Theory, 2004The Sarbanes-Oxley Act (2002) required the U.S. Comptroller General to study the potential effects of requiring mandatory audit firm rotation. The General Accounting Office (GAO) concludes in its recently released study of mandatory audit firm rotation that “mandatory audit firm rotation may not be the most efficient way to strengthen auditor ...
Joseph V. Carcello, Albert L. Nagy
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Selection Bias in Audit Firm Tenure Research
SSRN Electronic Journal, 2018Prior studies find that long auditor tenure improves audit quality. An alternative explanation, however, is that low audit quality increases auditor turnover, thereby self-selecting into the short-tenure group. To disentangle these explanations, this paper examines selection bias in audit firm tenure research in three steps.
Ce Wen, Ying Zhou
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On the Relationship between Audit Tenure and Fees Paid to the Audit Firm and Audit Quality
Accounting in Europe, 2019We investigate the impact of audit firm tenure, partner tenure, audit fees, fees for non-audit services and total fees on audit quality, as measured by discretionary accruals.
Josep Garcia-Blandon +2 more
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Audit Firm Tenure, Bank Complexity, and Financial Reporting Quality
Contemporary Accounting Research, 2015ABSTRACTTheory from organizations and economics research posits that in an inter‐organizational relationship, both parties invest in relationship‐specific knowledge, which in turn facilitates the effectiveness of the relationship while strengthening the attachment between the parties. In complex settings where there are more opportunities for knowledge
Brian Bratten +2 more
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Quasi Rents to Audit Firms from Longer Tenure
Accounting Horizons, 2018SYNOPSIS We offer an economic explanation for why audit firms oppose mandatory firm rotation. Using an innovative sample that overcomes sample selection biases, we find that fees for Big 4 audit firms increase noticeably over the audit firm's tenure. In contrast, fees for non-Big 4 audit firms decline as tenure lengthens.
Aloke (Al) Ghosh +1 more
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The Effects of Firm Market Value on Audit Partner Tenure and Firm Profitability [PDF]
Accounting & Taxation, 2009 This study investigates the effects audit partner tenure and firm profitability on the market value of the firm. This study extends Ohlson’s model by examining audit partner tenure, and the interaction between residual earnings per share and audit partner tenure on firm value.
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Audit firm tenure and audit quality: Case of listed companies in Croatia
2016Long audit tenure has raised concerns that the excessive familiarity between auditors and clients could result in reduced audit quality. As a result mandatory auditor rotation rules have been incorporated into the international and national regulation.
Sever Mališ, Sanja, Brozović, Mateja
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