 The effect of audit opinion on debt characteristics: the moderating effect of the type of auditor and the Tunisian RevolutionHanen Moalla Afro-Asian Journal of Finance and Accounting, 2025, vol. 15, issue 5, 665-688 Abstract: The aim of this research is to investigate the impact of the audit opinion on debt characteristics (i.e., debt amount, maturity structure, and cost of debt) and analyse the moderating effect of both the type of auditor and the Tunisian Revolution. We were interested in the going-concern opinion and the qualified opinion. We analysed 573 year-firms observations and pre- and post-revolution periods (respectively 2008-2010 and 2011-2017). The sample is composed of companies audited either by Big-4 or non-Big 4 auditors. The main results underline the importance of the effect of the going-concern opinion on debt characteristics. The influence of the qualified audit opinion and especially the going-concern opinion issued by a Big 4 auditor on the characteristics of the debt is important. These modified opinions expressed by a reputable auditor are associated with unfavourable debt conditions. A negative impact of the going-concern opinion after the Tunisian Revolution is highlighted. Keywords: going-concern opinion; qualified audit opinion; debt characteristics; debt amount; debt maturity structure; cost of debt; Big 4/non-Big 4; Tunisian Revolution. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:afasfa:v:15:y:2025:i:5:p:665-688 Access Statistics for this article More articles in Afro-Asian Journal of Finance and Accounting from Inderscience Enterprises Ltd |
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