A new study, “Audit Office Industry Diversity and Audit Quality,” examined audit offices’ financial statement restatement rates for clients and found that the quality of services suffers when an audit firm has clients from many different industries.
Nathan Goldman, assistant professor of accounting at Poole College, contributed to this study along with Erik Beardsley at the University of Notre Dame and Tom Omer at the University of Nebraska-Lincoln. The study will be published in the Journal of Accounting, Auditing and Finance.
