This paper examines whether the likelihood of accounting restatements is associated with Big 4 industry auditor specialists, measured at both the partner level and the audit firm level. We focus on a sample of listed firms in Taiwan, where audit reports must be audited and signed by the two signing auditors as well as by an audit firm. Extending previous studies, we classify industry specialists into three groups: (a) auditors that are industry specialists at both the individual partner level (i.e., the lead signing auditors) and the firm level; (b) auditors that are industry specialists at the individual partner level but not at the firm level; and (c) auditors that are industry specialists at the firm level but not at the individual partner level. The results reveal that clients of signing auditor specialists, either alone or in conjunction with firm-level specialists, are less likely to make accounting restatements relative to those of other auditors. We find no evidence that firm-level auditor specialists alone are associated with a smaller likelihood of accounting restatements. However, a firm-level industry expert does matter where the lead auditor is an expert. The results suggest that differential likelihood of accounting restatements due to Big 4 industry expertise is primarily attributable to the signing partner specialists rather than to auditor specialists at the firm level. We also find that differential restatement likelihood due to signing auditors' expertise is driven by the lead auditor's expertise, rather than by the concurring auditor's expertise

This paper first examines whether the Big 4 audit quality is associated with auditor industry expertise, measured as both individual partner- and audit firmlevel leadership. We focus on a sample of listed firms in Taiwan, where audit reports must be audited and signed by the two signing auditors as well as by an audit firm. For accruals analyses, we find that differential discretionary accruals due to industry expertise are driven by a combination of firm and partner expertise. For audit opinion analyses, we find that differential likelihood of a modified audit opinion (hereafter, MAO) is primarily attributable to signing auditor specialists. We also find that firm-level specialists alone are not associated with a higher likelihood of issuing a MAO. However, firm-level specialists, in combination with signing auditor specialists, can add something over and above the effects of the signing auditor specialists alone. Second, we further examine whether there is differential audit quality between signing auditors (i.e., lead and concurring auditors). We find that clients of lead signing auditor specialists, either alone or in conjunction with concurring auditor specialists, have smaller accruals and are more likely to receive a MAO compared to those of nonspecialists. However, concurring auditor specialists alone are not associated with higher audit quality, in terms of either smaller accruals or a higher MAO likelihood. Thus, we conclude that industry expertise is not homogeneous across individual auditors within the same audit firm in Taiwan

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Vertebral artery hypoplasia and a low velocity in the intracranial vertebrobasilar system on US might change the treatment of patients with posterior circulation infarction for primary and secondary prevention.