The objective of this article is to revisit the literature on Big-N audit fee premiums in the municipal setting using a methodology that controls for self-selection bias. Because auditor choices can be predicted based on certain client characteristics, using standard one-stage ordinary least...

The budgets governments present around the beginning of their fiscal years and the financial statements they publish in their annual reports after their fiscal years have ended are critical tools for legislators and voters to hold them accountable. The transparency of these documents to...