This paper examines IPO assurance fees to assess the use of industry specialization as a differentiation strategy by audit firms. Theory suggests that as an audit firm's share of a client industry increases their costs will decrease and their service quality to that industry will increase. In...

Recent amendments to Auditing Standard (AS) 3101 require disclosure of the initial year of the auditor-client relationship in the audit report. As the standard was being discussed, auditors, clients, and some PCAOB members expressed reservations about the necessity of tenure disclosures and were...

Recent amendments to Auditing Standard (AS) 3101 require disclosure of the initial year of the auditor-client relationship. As potential changes to the standard were being discussed, auditors, clients, and some PCAOB members expressed reservations about the necessity of tenure disclosures and...