This study investigates whether auditor quality and audit committee expertise are associated with improved financial disclosure timeliness as measured by the duration of a financial statement restatement's “dark period.” The restatement dark period represents the length of time between a...

Recent amendments to Auditing Standard (AS) 3101 require disclosure of the initial year of the auditor-client relationship. As potential changes to the standard were being discussed, auditors, clients, and some PCAOB members expressed reservations about the necessity of tenure disclosures and...

We examine competition for Andersen's public clients during and after its failure in 2002. This setting provides a natural experiment to examine audit market dynamics at the local level. We construct a database documenting Big4 purchases of local Andersen offices. After exploring the factors...

In this paper we investigate the reputational penalties to managers of firms announcing earnings restatements. More specifically, we examine management turnover and the subsequent re-hiring of displaced managers at firms announcing earnings restatements during 1997 or 1998. In contrast to prior...

In this paper, we investigate the reputational penalties to managers of firms announcing earnings restatements. More specifically, we examine management turnover and the subsequent employment of displaced managers at firms announcing earnings restatements during 1997 or 1998. In contrast to...