The Effect of Independence on Additional Audit Work : A European Perspective

This research examines the importance of previously identified factors (i.e., investor needs, client retention, professional values and obligations, and time budget pressures) on independence in two scenarios. The sample includes of 198 auditors from Big 6 auditing firms located in Denmark, Ireland, Italy, Spain, Sweden, The Netherlands, and the United Kingdom. In Case A (B), auditor judgment (stockholders' reliance on the thoroughness of the audit) was the primary factor for doing more work prior to signing off on the audit. The second most important factor was fear of losing the client (time-budget problems)