Regulations and Audit Opinions: Evidence from EU Banking Institutions
Chrysovalantis Gaganis (),
Fotios Pasiouras and
Charalambos Spathis ()
Computational Economics, 2013, vol. 41, issue 3, 387-405
In this study, we empirically investigate the relationship between financial and auditing requirements, capital requirements, official supervisory power, and the likelihood of receiving a qualified audit opinion. The sample consists of 71 qualified financial statements and 17,526 unqualified ones, from 3,642 banking institutions operating in 15 old and new EU countries over the period 1999–2006. The results indicate that financial and auditing requirements have a negative influence, while supervisory power has a positive impact, on the likelihood of qualified audit opinions. Concerning capital requirements, we find that only initial stringency has an impact on audit opinions. Copyright Springer Science+Business Media New York 2013
Keywords: Qualified audit opinion; Banking institutions; EU; Regulations (search for similar items in EconPapers)
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