An audit team includes engagement partners, CPAs, and staff. Among them, partners play a vital role in performing tasks that require expertise and experience, such as analyzing and understanding the industry, and supervising the overall audit process. In detail, the partners establish an audit...

We provide a lower-bound estimate of the undetected share of corporate fraud. To identify the hidden part of the "iceberg," we exploit Arthur Andersen's demise, which triggered added scrutiny on Arthur Andersen's former clients and thereby increased the detection likelihood of preexisting...

Using a panel of Chinese listed commercial banks from 2007 to 2021, this paper studies the impact of internal control on bank liquidity creation. We find an inverted U-shaped relation between internal control and bank liquidity creation. This effect operates through bank credit risk, shadow...