Audit markets are generally characterised as concentrated markets as the result of mergers and acquisitions among audit firms. Audit scandals around the world have raised concerns about whether concentration in the market for audit services has an adverse impact on competition and audit quality....

In this paper, we investigate the impact of the implementation of a set of new auditing standards in 1996 on the information environment in the emerging markets in China. Because the implementation of such standards can increase the quality and/or quantity of accounting disclosures, it can be...

Zhongtianqin, the largest Chinese auditor in 2000, collapsed in 2001 owing to its audit failure. This study examines how the market reacted to the audit scandal in the Chinese institutional setting. Chinese investors are entitled to recover their investment losses from auditors owing to audit...