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Discussion of “The Economics of Setting Auditing Standards”


  • Accepted by Raffi Indjejikian. An earlier version of this discussion was presented at the 2011 Contemporary Accounting Research Conference, generously supported by the Canadian Institute of Chartered Accountants. I thank Dan Simunic and Minlei Ye, the authors of the paper I discussed, for comments on the discussion. I would also like to thank John Hughes, Volker Laux, Bugra Ozel, and the conference participants for their comments.