In recent years, policy makers have expressed concern about the risks posed by audit market concentration (i.e., high market shares for the dominant Big 4 audit firms) for audit quality. In this paper, we examine the relation between concentration at the local (i.e., metropolitan statistical...

In this paper, we examine audit quality for Big 4 and Second-tier auditors during 2003-06. We utilize the auditor's propensity to issue a going concern audit report for distressed clients as a measure of audit quality. In addition, since the purpose of an audit is to improve financial reporting...

We examine whether the December 2007 PCAOB disciplinary order against Deloitte affected Deloitte's switching risk, audit fees, and audit quality relative to the other Big 4 firms over a three-year period following the censure. Our findings suggest that the PCAOB censure was associated with a...