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The Association between Individual Audit Partners’ Risk Preferences and theComposition of their Client PortfoliosEli AmirLondon Business SchoolRegent’s Park, London NW1 4SA, UKEamir@Juha-Pekka Kallunki*University of Oulu, Department of Accounting and FinanceP.O. Box 4600, FIN-90014 University of Oulu, FinlandJuha-Pekka.Kallunki@oulu.fiHenrik NilssonStockholm School of Economics, Department of AccountingP.O. Box 6501, SE-113 83 Stockholm, SwedenHenrik.Nilsson@hhs.seOctober 2011* Corresponding author. We thank the seminar participants at Bocconi (Italy), the University ofCyprus, IE Business School (Spain), the Norwegian Business School, BI (Norway), theUniversity of New South Wales (Australia), the University of Auckland (New Zealand), theUniversity of Oulu (Finland) and Victoria University (Wellington, New Zealand) for usefulcomments. Eli Amir is grateful to the London Business School for research support. We alsothank Euroclear Sweden, Finansinspektionen and the Swedish tax agency for providing therequisite data. Any possible errors are our own. This study has been evaluated and approved byThe Regional Ethical Review Board in Ume?, Sweden (DNR 08:074 ?).The Association between Individual Audit Partners’ Risk Preferences and theComposition of their Client PortfoliosAbstractWe relax the assumption often made in empirical auditing research that auditors arehomogenous individuals with similar personal characteristics. Based on the existing theories ineconomics and behavioral sciences, we explore whether audit partners’ attitude towards risk, asmeasured by their personal criminal convictions, are reflected in the composition of their clientportfolios. Analyzing a unique dataset of Swedish audit partners’ criminal convictions, we findthat the clients of audit partners with criminal convictions are characterized by greater financial,governance and reporting risk than those of audit partners without criminal convictions. Also,audit partners with criminal convictions charge