Discussion analyzes why auditors often do not adjust opinions on bankrupt companies, suggesting key implications.
The article presents the author's comments about the article "Towards An Explanation of Auditor Failure to Modify the Audit Opinions of Bankrupt Companies," by J.C. McKeown, J.F. Mutchler and W. Hopwood, previously published in the "Auditing: A Journal of Practice & Theory." The author says that the article tries to explain why auditors sometimes fail to modify the audit reports of the companies that subsequently enter bankruptcy.
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Timothy B. Bell (1991) studied this question.
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