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2014•Unpublished venueOpen access

Auditor Switching and Qualified Audit Opinion: Evidence from Serbia

Nemanja Stanišić, Zoran Petrović, Kosana Vićentijević, Vule Mizdraković

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Abstract

The awareness of association between auditor switching and the audit opinion is essential when legislation regarding mandatory audit practice is being done.To test the significance of the association, we collect data on audit opinion reports of a random sample that comprises 800 industrial entities from Republic of Serbia.Using Fisher's Exact Test, we conclude that companies that have received unqualified opinion in one period, and subsequently changed their auditor firm, were significantly less likely to receive unqualified opinion in the following period, when compared to companies that have not changed auditor.

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The awareness of association between auditor switching and the audit opinion is essential when legislation regarding mandatory audit practice is being done.To test the significance of the association, we collect data on audit opinion reports of a random sample that comprises 800 industrial entities from Republic of Serbia.Using Fisher's Exact Test, we conclude that companies that have received unqualified opinion in one period, and subsequently changed their auditor firm, were significantly less likely to receive unqualified opinion in the following period, when compared to companies that have not changed auditor.

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Available abstract

The awareness of association between auditor switching and the audit opinion is essential when legislation regarding mandatory audit practice is being done.To test the significance of the association, we collect data on audit opinion reports of a random sample that comprises 800 industrial entities from Republic of Serbia.Using Fisher's Exact Test, we conclude that companies that have received unqualified opinion in one period, and subsequently changed their auditor firm, were significantly less likely to receive unqualified opinion in the following period, when compared to companies that have not changed auditor.

Key concepts: Auditor's report, Audit, Accounting, Business, Auditor independence, External auditor, Audit substantive test, Joint audit

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