This paper identifies factors contributing to the auditor’s propensity to issue going-concern modified audit opinions (hereafter, GCOs) for charities and examines their association with subsequent revocation of their charitable status. We find that about 4 percent of charities receive GCOs and these are more likely for those which are smaller, in greater financial distress, received a prior year GCO, and are also affected by dependence on the various types of funding received. After controlling for these factors, Big 4 auditors are less likely to issue GCOs than other audit firms, but there are no differences in their association with subsequent revocation.

中文翻译：

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审计师对慈善组织出具持续经营经修正审计意见的倾向性和准确性

本文确定了导致审计师倾向于为慈善机构出具持续经营修正审计意见（以下简称 GCO）的因素，并研究了这些因素与随后撤销其慈善地位的关系。我们发现大约 4% 的慈善机构收到 GCO，这些更有可能是那些规模较小、财务困难更大、上一年收到 GCO 并且还受到依赖于所收到的各种资金类型的影响的慈善机构。在控制了这些因素后，四大审计师签发 GCO 的可能性低于其他审计公司，但它们与后续撤销的关联没有差异。