We develop the concept of auditor industry range as the extent to which an auditor has experiences in auditing clients from different industries, and we link this construct to auditor performance, drawing on prior research in psychology and cognitive science. We find that auditors with a wide range of industry experiences are more likely to require audit adjustments than auditors with a narrow range. We conduct an extensive set of analyses to mitigate the concern that our results are driven by endogenous matching between auditors and clients. The positive relation between auditor industry range and audit adjustments exists regardless of whether the industries covered by an auditor's portfolio exhibit strong or weak economic co-movement, and the relation is stronger for more complex clients, in more uncertain environments, and for auditors with more years of audit experience. Overall, our findings suggest that an auditor's diverse experiences in different industries can enhance audit quality.

中文翻译：

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审核员行业范围和审核质量

我们将审计师行业范围的概念发展为审计师对来自不同行业的客户进行审计的经验程度，并借鉴心理学和认知科学的先前研究，将这种结构与审计师的绩效联系起来。我们发现，具有广泛行业经验的审计师比行业经验狭窄的审计师更有可能需要审计调整。我们进行了一系列广泛的分析，以减轻人们对我们的结果是由审计师和客户之间的内生匹配驱动的担忧。无论审计师投资组合所涵盖的行业表现出强还是弱的经济联动性，审计师行业范围与审计调整之间都存在正相关关系，并且对于更复杂的客户、在更不确定的环境中以及对于拥有更多信息的审计师来说，这种关系更紧密。多年审计经验。总体而言，我们的研究结果表明，审计师在不同行业的丰富经验可以提高审计质量。