Audit reports assess financial distress pre- and post- SAS 59 implementation, indicating its significance.
Examines the effects of Statement of Auditing Standards (SAS) 59, the Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, on audit reports for companies in financial distress. Auditors' inclination to issue going-concern modified reports for financially stressed non-bankrupt companies.
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Raghunandan et al. (1995) studied this question.
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