Do modified audit opinions for Shanghai listed firms convey heterogeneous information?

Donglin Pei and Philip A. Hamill

Journal of International Accounting, Auditing and Taxation, 2013, vol. 22, issue 1, 1-11

Abstract: This study investigates market reactions to different types of modified audit opinions (MAOs) and unqualified audit opinion with explanatory notes, i.e. quasi-qualification – a unique feature of China's institutional environment. We find that quasi-qualifications contain more significant negative information than clean audit opinions, but less than that in other types of qualified audit opinions. Further, we provide evidence that audit opinions possess significant information heterogeneity in the Shanghai stock market.

Keywords: Shanghai stock market; Quasi-qualification modified auditor opinions; China (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jiaata:v:22:y:2013:i:1:p:1-11

DOI: 10.1016/j.intaccaudtax.2013.02.004

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