Australian studies find that companies with a qualified audit report experience:

Question

Quizplus · Accepted Answer

Results from Australian studies that have examined the impact of qualified audit reports find no abnormal price reaction on release of the audit report.However,on average,negative abnormal returns are observed leading up to the release,possibly reflecting the uncertainties that resulted in the audit qualification (Shevlin and Whittred 1984).

Australian Studies Find That Companies with a Qualified Audit Report