Exact(18)
Now power has shifted in auditors' favour.
But they intend to send in auditors to make sure improvements have been made.
And it leans on potentially dissenting voices, sending in auditors and tax inspectors to keep opposition media outlets in line.
A.& P. did not say why it had failed to mention the notification when it announced the change in auditors on Sept. 11.
"Historically, when there have been changes in auditors, they happen for very different reasons from those cited by companies switching auditors now," he said.
So Mr. McLaughlin called in auditors and had the program's chairman demand that the coordinator repay the money, some of which went for first-class airline tickets, DVDs and alcohol.
Similar(37)
The rise in auditor disputes this year has coincided with sustained pressure on pay deals after last year's shareholder spring.
To control for endogeneity in auditor's selection, the model is estimated using a restricted sample of firms, which hired, at least, one non-sanctioned auditor during the sample period and one sanctioned auditor in the pre-inspection period.
Sanctions are expected to trigger a change in auditor's behavior because they entail economic losses steaming from both financial penalties and reputational harm.
Our study should also be of interest to investors, audit firms, audit committees, managers, researchers, and other stakeholders interested in auditor oversight, auditor reputation and measures of auditor quality.
In this paper, we control for endogeneity in auditor selection by running our models on a subsample of firms with financial statements audited by at least one sanctioned auditor in the pre-inspection period and one non-sanctioned auditor in any year of the sample period.
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