Auditing standards prescribe a risk-based approach where auditors assess the risk of material misstatement and then design and perform audit procedures to reduce audit risk to an appropriately low level. Prior research suggests that auditors are responsive to high control risk assessments (CRA)...

We examine how capital market investors perceive the shared-opinion audit report (SOAR). Using earnings response coefficients (ERCs) to proxy for investors' perceptions of audit quality, we observe negative earnings surprise when the SOAR is announced as compared to unqualified audit opinions....

As the resentment against corruption assumes unprecedented proportions, with un-elected heroes of civil society at the helm, it is also important to stock of corrupt practices in all form of businesses including the cooperative sectors of India. Most of the cooperative disasters commenced from...