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The Association between Individual Audit Partners’ Risk Preferences and the Composition of their Client Portfolios Eli Amir London Business School Regent’s Park, London NW1 4SA, UK Eamir@ Juha-Pekka Kallunki* University of Oulu, Department of Accounting and Finance P.O. Box 4600, FIN-90014 University of Oulu, Finland Juha-Pekka.Kallunki@oulu.fi Henrik Nilsson Stockholm School of Economics, Department of Accounting P.O. Box 6501, SE-113 83 Stockholm, Sweden Henrik.Nilsson@hhs.se October 2011 * Corresponding author. We thank the seminar participants at Bocconi (Italy), the University of Cyprus, IE Business School (Spain), the Norwegian Business School, BI (Norway), the University of New South Wales (Australia), the University of Auckland (New Zealand), the University of Oulu (Finland) and Victoria University (Wellington, New Zealand) for useful comments. Eli Amir is grateful to the London Business School for research support. We also thank Euroclear Sweden, Finansinspektionen and the Swedish tax agency for providing the requisite data. Any possible errors are our own. This study has been evaluated and approved by The Regional Ethical Review Board in Ume?, Sweden (DNR 08:074 ?). The Association between Individual Audit Partners’ Risk Preferences and the Composition of their Client Portfolios Abstract We relax the assumption often made in empirical auditing research that auditors are homogenous individuals with similar personal characteristics. Based on the existing theories in economics and behavioral sciences, we explore whether audit partners’ attitude towards risk, as measured by their personal criminal convictions, are reflected in the composition of their client portfolios. Analyzing a unique dataset of Swedish audit partners’ criminal convictions, we find that 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