Auditor Independence Unaffected by Non-Audit Fees, Safeguarding Public Trust
The study looked at whether receiving non-audit services affects auditors' independence when issuing going concern opinions. The researchers found no significant link between non-audit service fees and impaired auditor independence. They also found no connection between going concern opinions and total fees or audit fees. The results suggest that market-based factors like reputation loss and legal costs are more influential in maintaining auditor independence than potential benefits from compromising it.