Experimental Research in Auditing: Field vs. Laboratory Settings

This paper reports a laboratory study which replicates an earlier field based study reported in this journal (Houghton, 1983). The conclusions of the laboratory study are identical to those reported in the field study. Specifically, the studies find that while the presence and content (‘clear’ versus ‘subject to’ qualification) of audit opinions do not have a significant impact on the loan decisions of corporate bankers, they do significantly influence the decision processes of those bankers.