Opinion Shopping in Austria - An empirical analysis of independence in the field of auditing

This master thesis aims at analysing the auditor changes on the Austrian market. The purpose is to find out whether there is evidence for opinion shopping in Austria and whether it is possible to observe this kind of opportunistic behaviour. In order to do so, an empirical analysis of companies listed on the Austrian stock exchange is conducted. By examining the effects of the receipt of an audit opinion other than unqualified on the auditor choice, this study contributes to the academic discussion with regard to auditor independence. Two characteristics are investigated: auditor size and auditor tenure. The focus of the study lies on determining whether frequent auditor changes pose a threat to the auditing profession.