If add a variable that accurately measure 'external audit opinion', this is possibly.

Also, pay attention as to whether adding the variable into the model improves the explanatory power of the model. Regression can help you check that. There are other methods other than regression.

Theoretically, there is a relationship between financial distress and the auditor's report. However, Taffler who was the authorized owner of the license foir the Altman's model in the UK found that auditors have a strong tendency not to disclose any financial danger affecting the going concern before the danger is well known by the business community. You may find one or two papers. noticeably with David Citron

Dear Habeeb Mohamed Nijam

Greetings,

Please find the attached files about you question,

Best Regards,