Table III presents descriptive statistics[12] (mean, standard deviation) for the explanatory variables defined in Table II, along with the results of a Kruskal-Wallis test of means differences. The univariate tests suggest that the mean values of the independent variables for the qualified versus the unqualified financial statements are significantly different in almost all cases. More detailed, banks with qualified financial statements appear to be smaller, more liquid, less well capitalized, and less cost efficient on average than the ones with unqualified financial statements. We also observe significant differences in the case of AUDRQ, DISCRQ, and OFDISPR.