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Medientyp:
E-Artikel
Titel:
The Impact of Managing Director Changes and Financial Distress on Audit Qualification and Auditor Switching
Beteiligte:
Hudaib, Mohammad;
Cooke, T.E.
Erschienen:
Wiley, 2005
Erschienen in:
Journal of Business Finance & Accounting, 32 (2005) 9-10, Seite 1703-1739
Sprache:
Englisch
DOI:
10.1111/j.0306-686x.2005.00645.x
ISSN:
0306-686X;
1468-5957
Entstehung:
Anmerkungen:
Beschreibung:
Abstract: This study examines the interactive effects of change in managing director/chief executive officer (MD) and financial distress together with five control variables (type of audit firm; audit fees; gearing; time; and company size) on first, audit opinion and secondly on auditor switching. Based on a sample of 297 UK listed companies between 1987 and 2001, we find that companies that are financially distressed and change their MD are most likely to receive a qualified audit report, ceteris paribus. In addition, we find evidence of both familiarity and intimidation threats and that the probability of a switch increases with the severity of qualification.