Valuation service providers (specialists, hereafter) play an essential role in the development and audit of complex estimates such as fair value measurements (FVMs). Despite their critical role, qualitative research examining the relationship between specialists and their auditor and management...

We analyze interviews with valuation specialists (specialists) employed by audit firms (in the Asia-Pacific region, Europe, and the U.S.) to understand how they work with auditors to evaluate the reasonableness of fair value measurements (FVMs) for financial instruments. The rapid growth of FVMs...

We examine how an accounting firm’s attempt to circumvent the PCAOB inspection process influences non-professional investors’ judgments about auditor credibility and willingness to continue investing in a company the firm audits. In an experiment using 198 non-professional investors, we...