Long-Term Impact of Economic Conditions on Auditors' Judgment
研究发现，审计师进入劳动力市场时的经济状况会长期影响其判断，经济衰退期入职的审计师更频繁地提出审计调整，且其审计的公司更少违反财务报告规定。
ABSTRACT We find that economic conditions at the time an auditor enters the labor market have a long-term impact on her judgment and decision making. Specifically, engagement partners who started their career during economic downturns issue audit adjustments more frequently. For the subsample of company-years with no audit adjustments, downturn auditors are more likely to issue a modified audit opinion. In addition, companies audited by downturn auditors are less likely to violate financial reporting and disclosure regulations. Together, our findings suggest that the early career stage is a critical formative period for auditors. JEL Classifications: J24; M42.