... for the years 2011 to 2020. The dependent variable is the auditors’ propensity to issue modified audit opinions, which is a proxy for auditor independence. The authors use relative client audit fees as a proxy for client importance. To address endogeneity issues in the selection of family firms, the authors use...

...Angela Walker; David Hay Purpose The accounting profession has argued strongly against claims that the provision of non‐audit services to audit clients leads to impaired auditor independence, instead claiming that the joint provision of non‐audit services and audit services creates knowledge...