Recent US reforms aimed at strengthening audit committees and their structure assign independent audit committees the responsibility to appoint, dismiss, and compensate auditors. We examine the association between audit committee characteristics and auditors' compensation and dismissals...

This paper investigates the common, yet previously opaque, practice of using foreign audit firms (component auditors) to conduct portions of audit work for U.S. public companies. U.S. regulators have expressed concern for the transparency and quality of audits using component auditors. Employing...

This paper investigates the common, yet previously opaque, practice of using foreign audit firms (component auditors) to conduct portions of audit work for U.S. public companies. U.S. regulators have expressed concern for the transparency and quality of audits using component auditors. Employing...

The mandatory retirement age within U.S. audit firms ranges from 55 to 62, which has resulted in both controversy and legal scrutiny. The potential cost of requiring partners to retire at an age that is far younger than in other countries and related professions is the loss of their connections,...

Securities regulators around the world are considering the costs and benefits of alternative policies for providing information to financial markets on corporate internal control. These policy options differ on the level of auditor involvement, among other dimensions. We examine the association...