In the past six years, the average number of industries (2-digit SIC) serviced by audit offices in the United States has grown by 20% and the number of industries where the office has specialization has fallen by 40% (Data Source: Audit Analytics). This suggests a trend away from specialization...

A basic principle underlying the public securities markets in many countries is that the interests of investors need to be protected. Independence from their clients (i.e., client management) is supposed to make it more likely that auditors will protect investors' interests. This paper examines...

The paper discusses the policy implications of the Wirecard scandal. The study finds that all lines of defense against corporate fraud, including internal control systems, external audits, the oversight bodies for financial reporting and auditing and the market supervisor, contributed to the...