This paper investigates the effect of Asian financial crisis on the relation between client economic importance and auditor independence. Using data from 1994 to 2001 in six Asian markets (Hong Kong, Indonesia, Malaysia, Taiwan, Thailand, and Singapore), we find that auditors are less likely to...

This study investigates whether auditors' independence was compromised by client audit fee pressures during the recession of December 2007 through June 2009. We hypothesize that clients able to extract fee concessions from auditors during the recession, when audit risk increased, might also have...