As expected, we find consistent results regarding the relation between accounting conservatism and audit-firm tenure; that is, firms with short-tenured auditors tend to be more conservative and firms with long-tenured auditors tend to be less conservative. We also find positive coefficients on the interaction terms between audit firm tenure and the percentage of audit committee members being more than 65 years old and the level of shareholder activism. The results suggest that firms can reduce the effect of long auditor-client relationship on accounting conservatism when they have older audit committee members and when there is a higher level of shareholder activism