The article investigates why some companies choose to hire auditors with known quality control problems, as indicated by Part II inspection reports from the PCAOB. The researchers compared companies that switched to auditors with Part II reports and those that switched to auditors without such reports. They discovered that companies opting for auditors with Part II reports tended to have higher discretionary accruals in the first year after the switch, indicating lower audit quality and a higher risk of future fraud. Surprisingly, there was no significant difference in audit fees between the two groups. This suggests that PCAOB Part II reports might serve as a warning sign for companies looking for lower-quality audits.