When a Bank Fails, People ‘Lose Faith’ in the Auditors
Going Concern
OCTOBER 11, 2022
bank customers — find it difficult to trust auditors when those auditors have been associated with a failed bank. His new article, “The Role of Audit Firms in Spreading Depositor Contagion,” argues that depositors perceive bank failure as an audit failure, which reduces their assessment of auditor credibility.
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