“…The reliability of the provided information could depend on the independence of the information provider, and consequently on incentives. This reflects a typical problem that has been analysed extensively in the auditing literature (DeAngelo, 1981;Arruñada, 1997;Frankel et al, 2002;Ashbaugh et al, 2003;Chung and Kallapur, 2003), particularly after the demise of Andersen following the Enron scandal (Kaplan et al, 2007). However, this question has not been solved completely in the literature (Monterrey and Sánchez, 2007) and it is still controversial, probably due to two facts: independence is not observable and the quality of the information is difficult to assess.…”