Working Paper: Does Information on Audit Participants Explain Audit Quality of U.S. Multinational Corporations?

Paper Authors:  Denise H. Downey and Jean C. Bedard

Abstract: This paper was initiated while Denise Hanes Downey was a Senior Economic Research Fellow in the Office of Economic and Risk Analysis at the Public Company Accounting Oversight Board (PCAOB). The authors thank the Board and the staff of the Office of Economic and Risk Analysis for support of our research, and many other PCAOB staff and research fellows for their assistance and advice. An earlier version of this paper also benefited from insightful comments by many individuals, including Colleen Boland, Jenna Burke, Amanda Converey, Carol Dee, Jere Francis, Rani Hoitash, Udi Hoitash, Jennifer Joe, Clive Lennox, Tom Linsmeier, Andrew Kitto, Zach Kowaleski, Gopal Krishnan, Dan Lynch, Jay Thibodeau, Ann Vanstraelen, Karla Zehms, and workshop participants at Bentley University, Villanova University, the University of Delaware, the University of Wisconsin-Madison and the 2019 International Symposium on Audit Research. Information on company subsidiaries from SeekiNF was provided courtesy of Raj Srivastava. We thank Tejaswi Morla and Zheng Liu for their research assistance. The PCAOB, as a matter of policy, disclaims responsibility for any private publication or statement by any of its Economic Research Fellows and employees. The views expressed in this paper are the views of the authors and do not necessarily reflect the views of the Board, individual Board members, staff or fellows of the PCAOB. 

To inquire about this paper, please email