Safeguarding reputation is one major incentive for large auditors to maintain high audit quality. We investigate the phenomenon of reputation by studying the impact of an audit failure on the reputation of a large audit firm in India. Specifically, we analyze the events surrounding the high...

The adoption of International Financial Reporting Standards (IFRS) as a country's Generally Accepted Accounting Principles (GAAP) has accelerated in the last 5 years with approximately 120 sovereign governments designating IFRS as the required financial reporting framework for at least some...