... that are related to the audit reporting process. opinion shopping internal control weakness audit opinion audit quality audit market competition Opinion shopping has long been of concern to regulators ( U.S. Senate 1976 ; Securities and Exchange Commission [SEC] 1988 ; Public Company Accounting...

... and internal control weaknesses. Firms from weak rule of law countries show no significant association. We interpret these findings as home country enforcement affecting firms' likelihood of detecting and reporting existing accounting misstatements. This suggests that for U.S.-listed foreign firms, less...