References
- Aghion, P., & Bolton, P. (1992). An incomplete contracts approach to financial contracting. The Review of Economic Studies, 59(3), 473–494. https://doi.org/10.2307/2297860
- Akins, B. (2018). Financial reporting quality and uncertainty about credit risk among ratings agencies. The Accounting Review, 93(4), 1–22. https://doi.org/10.2308/accr-51944
- Allee, K., & Yohn, T. (2009). The demand for financial statements in an unregulated environment: An examination of the production and Use of financial statements by privately held small businesses. The Accounting Review, 84(1), 1–25. https://doi.org/10.2308/accr.2009.84.1.1
- Anderson, R. C., Duru, A., & Reeb, D. M. (2009). Founders, heirs, and corporate opacity in the United States☆. Journal of Financial Economics, 92(2), 205–222. https://doi.org/10.1016/j.jfineco.2008.04.006
- Auditing and Assurance Standards Board of Canada.. (2014). Decision Summary April 8–9, 2013, Available online at http://www.frascanada.ca/auditing-and-assurance-standards-board/meetings/decision-summaries/2014/item80755.aspx
- Ball, R., Askon, R., & Sadka, G. (2008b). Is financial reporting shaped by equity markets or by debt markets? An international study of timeliness and conservatism. Review of Accounting Studies, 13(2–3), 168–205. https://doi.org/10.1007/s11142-007-9064-x
- Ball, R., Bushman, R. M., & Vasvari, F. P. (2008a). The debt-contracting value of accounting information and loan syndicate structure. Journal of Accounting Research, 46(2), 247–287. https://doi.org/10.1111/j.1475-679X.2008.00273.x
- Balsam, S., Krishnan, J., & Yang, J. S. (2003). Auditor industry specialization and earnings quality. AUDITING:A Journal of Practice & Theory, 22(2), 71–97. https://doi.org/10.2308/aud.2003.22.2.71
- Barth, M. E., Beaver, W. H., & Landsman, W. R. (1998). Relative valuation roles of equity book value and net income as a function of financial health. Journal of Accounting and Economics, 25(1), 1–34. https://doi.org/10.1016/S0165-4101(98)00017-2
- Barton, J., Hodder, L. D., & Shepardson, M. L. (2015). Audits and Bank Failure: Do Financial Statement Audits Reduce Losses to Capital Providers? Available at SSRN 2719198.
- Beatty, A. L., Liao, W.-Y. (., & Weber, J. P. (2009). The Effect of Private Information and Monitoring on the Role of Accounting Quality in Investment Decisions (June 30, 2009). Available at SSRN: https://ssrn.com/abstract=1499307 or https://doi.org/10.2139/ssrn.1499307
- Beatty, A., Liao, S., & Weber, J. (2010). The effect of private information and monitoring on the role of accounting quality in investment decisions*. Contemporary Accounting Research, 27(1), 17–47. https://doi.org/10.1111/j.1911-3846.2010.01000.x
- Bédard, J., & Courteau, L. (2015). Benefits and costs of auditor's assurance: Evidence from the review of quarterly financial statements. Contemporary Accounting Research, 32(1), 308–335. https://doi.org/10.1111/1911-3846.12091
- Bharath, S. T., Sunder, J., & Sunder, S. V. (2008). Accounting quality and debt contracting. The Accounting Review, 83(1), 1–28. https://doi.org/10.2308/accr.2008.83.1.1
- Biddle, G., & Hilary, G. (2006). Accounting quality and firm-level capital investment. The Accounting Review, 81(5), 963–982. https://doi.org/10.2308/accr.2006.81.5.963
- Blackwell, D., Noland, T., & Winters, D. (1998). The value of auditor assurance: Evidence from loan pricing. Journal of Accounting Research, 36(1), 57–70. https://doi.org/10.2307/2491320
- Canadian Institute of Chartered Accountants (CICA). Section 7050 – auditor review of interim financial statements. Canadian Institute of Chartered Accountants.
- Chen, P. (2016). Banks’ acquisition of private information about financial misreporting. The Accounting Review, 91(3), 835–857. https://doi.org/10.2308/accr-51222
- Chiu, T. T., Guan, Y., & Kim, J. B. (2018). The effect of risk factor disclosures on the pricing of credit default swaps. Contemporary Accounting Research, 35(4), 2191–2224. https://doi.org/10.1111/1911-3846.12362
- Chow, C. W. (1982). The demand for external auditing: Size, debt, and ownership influences. The Accounting Review, 57(2), 272–291. http://www.jstor.org/stable/247014
- Church, B. K., Davis, S. M., & McCracken, S. A. (2008). The auditor's reporting model: A literature overview and research synthesis. Accounting Horizons, 22(1), 69–90. https://doi.org/10.2308/acch.2008.22.1.69
- Crawford Committee. (2003). Five year review committee final report – Reviewing the Securities Act (ontario). Queen’s Printer for Ontario.
- Dechow, P. M., & Dichev, I. D. (2002). The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review, 77(Supplement), 35–59. https://doi.org/10.2308/accr.2002.77.s-1.35
- DeFond, M., & Zhang, J. (2014). A review of archival auditing research. Journal of Accounting and Economics, 58(2–3), 275–326. https://doi.org/10.1016/j.jacceco.2014.09.002
- Denis, D. J., & Mihov, V. T. (2003). The choice among bank debt, non-bank private debt, and public debt: Evidence from new corporate borrowings. Journal of Financial Economics, 70(1), 3–28. https://doi.org/10.1016/S0304-405X(03)00140-5
- Diamond, D. W. (1991). Monitoring and reputation: The choice between bank loans and directly placed debt. Journal of Political Economy, 99(4), 689–721. https://doi.org/10.1086/261775
- Ettredge, M., Simon, D. T., Smith, D. B., & Stone, M. S. (1994). Why do companies purchase timely quarterly reviews? Journal of Accounting and Economics, 18(2), 131–155. https://doi.org/10.1016/0165-4101(94)00364-5
- Ettredge, M., Simon, D. T., Smith, D. B., & Stone, M. S. (2000). The effect of the external accountant's review on the timing of adjustments to quarterly earnings. Journal of Accounting Research, 38(1), 195–207. https://doi.org/10.2307/2672928
- Fama, E. (1985). What’s different about banks? Journal of Monetary Economics, 15(1), 29–39. https://doi.org/10.1016/0304-3932(85)90051-0
- Florou, A., & Kosi, U. (2015). Does mandatory IFRS adoption facilitate debt financing? Review of Accounting Studies, 20(4), 1407–1456. https://doi.org/10.1007/s11142-015-9325-z
- Forbes. (2016). Looking To Borrow? You May Need An Audit, Review Or Compilation. Available at: https://www.forbes.com/sites/sageworks/2016/11/26/looking-to-borrow-you-may-need-an-audit-review-or-compilation/?sh=79e3827b46cd
- Francis, B., Hunter, D., Robinson, D., Robinson, M., & Yuan, X. (2017). Auditor changes and the cost of bank debt. The Accounting Review, 92(3), 155–184. https://doi.org/10.2308/accr-51553
- Francis, J., LaFond, R., Olsson, P., & Schipper, K. (2005b). The market pricing of accruals quality. Journal of Accounting and Economics, 39(2), 295–327. https://doi.org/10.1016/j.jacceco.2004.06.003
- Francis, J. R., Khurana, I. K., & Pereira, R. (2005a). Disclosure incentives and effects on cost of capital around the world. The Accounting Review, 80(4), 1125–1162. https://doi.org/10.2308/accr.2005.80.4.1125
- Fu, R., Kraft, A., & Zhang, H. (2012). Financial reporting frequency, information asymmetry, and the cost of equity. Journal of Accounting and Economics, 54(2–3), 132–149. https://doi.org/10.1016/j.jacceco.2012.07.003
- Gay, G., Schelluch, P., & Baines, A. (1998). Perceptions of messages conveyed by review and audit reports. Accounting, Auditing & Accountability Journal, 11(4), 472–494. https://doi.org/10.1108/09513579810231493
- Gigler, F., Kanodia, C., Sapra, H., & Venugopalan, R. (2014). How frequent financial reporting can cause managerial short-termism: An analysis of the costs and benefits of increasing reporting frequency. Journal of Accounting Research, 52(2), 357–387. https://doi.org/10.1111/1475-679X.12043
- Graham, J. R., Li, S., & Qiu, J. (2008). Corporate misreporting and bank loan contracting☆. Journal of Financial Economics, 89(1), 44–61. https://doi.org/10.1016/j.jfineco.2007.08.005
- Greene, W. H. (2003). Econometric analysis. Pearson Education India.
- Gul, F. A., Wu, D., & Yang, Z. (2013). Do individual auditors affect audit quality? Evidence from archival data. The Accounting Review, 88(6), 1993–2023. https://doi.org/10.2308/accr-50536
- Hasan, I., Hoi, H. C. K., Wu, Q., & Zhang, H. (2014). Beauty is in the eye of the beholder: The effect of corporate tax avoidance on the cost of bank loans. Journal of Financial Economics, 113(1), 109–130. https://doi.org/10.1016/j.jfineco.2014.03.004
- Hay, D. C., Knechel, W. R., & Wong, N. (2006). Audit fees: A meta-analysis of the effect of supply and demand attributes*. Contemporary Accounting Research, 23(1), 141–191. https://doi.org/10.1506/4XR4-KT5V-E8CN-91GX
- Holmstrom, B., & Tirole, J. (1997). Financial intermediation, loanable funds, and the real sector. The Quarterly Journal of Economics, 112(3), 663–691. https://doi.org/10.1162/003355397555316
- Hsu, W. Y., Troy, C., & Huang, Y. R. (2015). The determinants of auditor choice and audit pricing among property-liability insurers. Journal of Accounting and Public Policy, 34(1), 95–124. https://doi.org/10.1016/j.jaccpubpol.2014.09.001
- Ireland, J. C., & Lennox, C. S. (2002). The large audit firm fee premium: A case of selectivity bias? Journal of Accounting, Auditing & Finance, 17(1), 73–91. https://doi.org/10.1177/0148558X0201700104
- Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
- Kajüter, P., Klassmann, F., & Nienhaus, M. (2016). Do reviews by external auditors improve the information content of interim financial statements? The International Journal of Accounting, 51(1), 23–50. https://doi.org/10.1016/j.intacc.2016.01.003
- Kajüter, P., Lessenich, A., Nienhaus, M., & van Gemmern, F. (2021). Consequences of interim reporting: A literature review and future research directions. European Accounting Review, 209–239. https://doi.org/10.1080/09638180.2021.1872398
- Kamp, B. (2002). Fiscal year-End choice: Determinants and dynamics. The International Journal of Accounting, 37(4), 421–427. https://doi.org/10.1016/S0020-7063(02)00191-7
- Kausar, A., Shroff, N., & White, H. (2016). Real effects of the audit choice. Journal of Accounting and Economics, 62(1), 157–181. https://doi.org/10.1016/j.jacceco.2015.10.001
- Kim, J. B., Simunic, D., Stein, M., & Yi, C. (2011a). Voluntary audits and the cost of debt capital for privately held firms: Korean evidence*. Contemporary Accounting Research, 28(2), 585–615. https://doi.org/10.1111/j.1911-3846.2010.01054.x
- Kim, J. B., Tsui, J., & Yi, C. H. (2011b). The voluntary adoption of international financial reporting standards and loan contracting around the world. Review of Accounting Studies, 16(4), 779–811. https://doi.org/10.1007/s11142-011-9148-5
- Krishnan, J., & Zhang, Y. (2005). Auditor litigation risk and corporate disclosure of quarterly review report. Auditing:A Journal of Practice & Theory, 24(s-1), 115–138. https://doi.org/10.2308/aud.2005.24.s-1.115
- Kraft, A. G., Vashishtha, R., & Venkatachalam, M. (2018). Frequent financial reporting and managerial myopia. The Accounting Review, 93(2), 249–275. https://doi.org/10.2308/accr-51838
- Lennox, C., & Pittman, J. (2011). Voluntary audits versus mandatory audits. The Accounting Review, 86(5), 1655–1678. https://doi.org/10.2308/accr-10098
- López, D. M., & Peters, G. F. (2012). The effect of workload compression on audit quality. Auditing: A Journal of Practice & Theory, 31(4), 139–165. https://doi.org/10.2308/ajpt-10305
- Manry, D., Tiras, S. L., & Wheatley, C. M. (2003). The influence of interim auditor reviews on the association of returns with earnings. The Accounting Review, 78(1), 251–274. https://doi.org/10.2308/accr.2003.78.1.251
- Mansi, S. A., Maxwell, W. F., & Miller, D. P. (2004). Does auditor quality and tenure matter to investors? Evidence from the bond market. Journal of Accounting Research, 42(4), 755–793. https://doi.org/10.1111/j.1475-679X.2004.00156.x
- Melumad, N., & Thoman, L. (1990). On auditors and the courts in an adverse selection setting. Journal of Accounting Research, 28(1), 77–120. https://doi.org/10.2307/2491218
- Minnis, M. (2011). The value of financial statement verification in debt financing: Evidence from private U.S. Firms. Journal of Accounting Research, 49(2), 457–506. https://doi.org/10.1111/j.1475-679X.2011.00411.x
- Myers, J. N., Myers, L. A., & Skinner, D. J. (2007). Earnings momentum and earnings management. Journal of Accounting, Auditing & Finance, 22(2), 249–284. https://doi.org/10.1177/0148558X0702200211
- Ontario Securities Commission (OSC). (2000). Notice of rule 52–501 financial statements and companion policy 52–501CP. Ontario Securities Commission.
- Ontario Securities Commission (OSC). (2002). Staff notice 52–713 report on staff’s review of interim financial statements and interim management’s discussion and analysis. Ontario Securities Commission.
- Ontario Securities Commission (OSC). (2004). National instrument 51–102 Continuous disclosure obligations. Ontario Securities Commission. https://www.sedi.ca/sedi/new_help/english/public/PDF_en/NI51-102.pdf
- Ozkan, N., Singer, Z., & You, H. F. (2012). Mandatory IFRS adoption and the contractual usefulness of accounting information in executive compensation. Journal of Accounting Research, 50(4), 1077–1107. https://doi.org/10.1111/j.1475-679X.2012.00453.x
- Peek, E., Meuwissen, R., Moers, F., & Vanstraelen, A. (2013). Comparing abnormal accruals estimates across samples: An international test. European Accounting Review, 22(3), 533–572. https://doi.org/10.1080/09638180.2012.746518
- Pittman, J. A., & Fortin, S. (2004). Auditor choice and the cost of debt capital for newly public firms. Journal of Accounting and Economics, 37(1), 113–136. https://doi.org/10.1016/j.jacceco.2003.06.005
- Powers, D. (2007). Censored regression, sample selection, endogenous switching, and treatment-effect regression models. Working paper. Available at: http://www.oir.pku.edu.cn/umich/teaching/download/20092/CDAcoursematerials/handouts/SelectRegQ.pdf Robin, A., Q.
- Robin, A., Wu, Q., & Zhang, H. (2017). Auditor quality and debt covenants. Contemporary Accounting Research, 34(1), 154–185. https://doi.org/10.1111/1911-3846.12243
- S&P (Standard & Poor’s). (2008). Corporate Criteria: Analytical Methodology. Available from: http://www.standardand-poors.com/en_US/web/guest/article/view/type/HTML/id/1774270
- Securities and Exchange Commission (SEC. (1999a). Proposed rule: Audit committee disclosure, 17 CFR Parts 210, 228, 229, & 240. SEC Release No. 34–41987. Available online at http://wwwsec.gov/rules/proposed/34–41987.htm
- Securities and Exchange Commission (SEC. (1999b). Final rule: Audit committee disclosure, 17 CFR Parts 210, 228, 229, and 240. SEC Release No. 34–42266. Available online at https://www.sec.gov/rules/final/34-42266.htm
- Shipman, J. E., Swanquist, Q. T., & Whited, R. L. (2016). Propensity score matching in accounting research. The Accounting Review, 92(1), 213–244. https://doi.org/10.2308/accr-51449
- Toronto Stock Exchange. (2002). Comments on the Five Year Review Committee Draft Report –Reviewing the Securities Act (Ontario). Toronto Stock Exchange. Available online at http://www.osc.gov.on.ca/documents/en/Securities/fyr_20020911_report_com_tsx.pdf
- TSX Venture Exchange. (2002). Comments on the Five Year Review Committee Draft Report –Reviewing the Securities Act (Ontario). TSX Venture Exchange. Available online at http://www.osc.gov.on.ca/documents/en/Securities/fyr_20020830_report_com_tsxventure.pdf
- Watts, R. L., & Zimmerman, J. L. (1983). Agency problems, auditing, and the theory of the firm: Some evidence. The Journal of Law and Economics, 26(3), 613–633. https://doi.org/10.1086/467051
- Wu, Q., & Zhang, H. (2017). Auditor quality and debt covenants. Contemporary Accounting Research, 34(1), 154–185.