caa a22 4500 467910014 CHVBK 20180406152846.0 cr unu---uuuuu 170328e20060901xx s 000 0 eng 10.1007/s10645-006-9016-z doi (NATIONALLICENCE)springer-10.1007/s10645-006-9016-z Post-Enron Implicit Audit Reporting Standards: Sifting through the Evidence [Elektronische Daten] [Piet Sercu, Heidi Vander Bauwhede, Marleen Willekens] Summary: The accounting scandals and the demise of Andersen have increased auditors' ex ante business risk. As a result, stock markets revised downward the value of the external audit (Callen and Morel (2002); Chaney and Philipich (2002); Krishnamurthy et al. (2002); Asthana et al. (2003)). One commonsensical reaction on behalf of auditors should have been to apply the existing rules more carefully and, thus, issue more non-clean opinions on the financial statements they have audited. This is exactly what we see. Closer scrutiny reveals that the higher incidence of non-clean audit opinions is not due to the (substantial) changes in the audit client list or their balance sheets. This study mirrors earlier results where auditors relaxed their standards following a drop in business risk (Geiger and Raghunandan, (2001), (2002); Francis and Krishnan, (2002)). Springer, 2006 Auditor reporting nationallicence qualified/modified opinion nationallicence Enron nationallicence Andersen Data availability: All data are publicly available nationallicence Sercu Piet Faculty of Economics and Business, AFI Research Center, Katholieke Universiteit Leuven, Naamsestraat 69, B-3000, Leuven, Belgium aut Vander Bauwhede Heidi Faculty of Economics and Business, AFI Research Center, Vlerick Leuven Gent Management School and Katholieke Universiteit Leuven, Naamsestraat 69, B-3000, Leuven, Belgium aut Willekens Marleen Faculty of Economics and Business, AFI Research Center, Katholieke Universiteit Leuven, Naamsestraat 69, B-3000, Leuven, Belgium aut De Economist Kluwer Academic Publishers-Plenum Publishers; http://www.springer-ny.com 154/3(2006-09-01), 389-403 0013-063X 154:3<389 2006 154 10645 https://doi.org/10.1007/s10645-006-9016-z text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10645-006-9016-z text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Sercu Piet Faculty of Economics and Business, AFI Research Center, Katholieke Universiteit Leuven, Naamsestraat 69, B-3000, Leuven, Belgium aut NATIONALLICENCE 700 1- Vander Bauwhede Heidi Faculty of Economics and Business, AFI Research Center, Vlerick Leuven Gent Management School and Katholieke Universiteit Leuven, Naamsestraat 69, B-3000, Leuven, Belgium aut NATIONALLICENCE 700 1- Willekens Marleen Faculty of Economics and Business, AFI Research Center, Katholieke Universiteit Leuven, Naamsestraat 69, B-3000, Leuven, Belgium aut NATIONALLICENCE 773 0- De Economist Kluwer Academic Publishers-Plenum Publishers; http://www.springer-ny.com 154/3(2006-09-01), 389-403 0013-063X 154:3<389 2006 154 10645 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer