Key points are not available for this paper at this time.
Joseph V. Carcello, Zoe-Vonna Palmrose, Auditor Litigation and Modified Reporting on Bankrupt Clients, Journal of Accounting Research, Vol. 32, Studies on Accounting, Financial Disclosures, and the Law (1994), pp. 1-30
Carcello et al. (Sat,) studied this question.