We find no evidence that non-audit service fees impair auditor independence, where independence is surrogated by auditors' propensity to issue going concern audit opinions. We do find, however, that auditors are more likely to issue going concern opinions to clients paying higher audit fees,...

A large auditing literature concludes that Big N auditors provide higher audit quality than non-Big N auditors. Recently, however, a high profile study suggests that Propensity Score Matching (PSM) on client characteristics eliminates the Big N effect (Lawrence, Minutti-Meza, and Zhang 2011,...