비정상 감사보수 및 비정상 감사시간을 활용한 감사품질 사례연구 (A Case study on Audit Quality using Abnormal Audit Fees and Abnormal Audit Hours)

서지정보

· 발행기관 : 한국회계학회
· 수록지 정보 : 회계저널 / 21권 / 1호 / 259 ~ 287페이지
· 저자명 : 마희영, 권수영, 정지연

초록

본 논문은 1)감사보수와 감사시간으로 감사품질을 측정하여 분식회계로 문제가 된 기업이 감사품질이 낮았는지 여부(사후적 분석)와 2)반대로 감사품질이 낮은 것으로 평가되는 기업이 추후에 회계분식 등의 문제가 발생하였는지 여부(사전적 분석)를 분석한다.
첫 번째 분석에서는 분식회계로 소액주주에 의해 손해배상소송이 제기되고 배상판결이 이루어진 ㈜터보테크를 선정하여 회계분식이 이루어진 시점에 감사품질에 문제가 있었는지를 살펴보았다. 분석결과 ㈜터보테크의 감사시간이 충분히 투입되지 않았을 뿐(비정상 감사시간이 산업평균보다 낮음)만 아니라 독립성을 견지하기가 어려웠을 정황을 확인할 수 있었다.
두 번째 분석에서는 비정상 감사보수가 높고 비정상 감사시간이 작아 감사품질이 낮아 추후에 회계 관련 문제가 발생할 것으로 예상하고, 이에 해당하는 기업으로 브이케이㈜를 선정하였다. 분석 결과 브이케이㈜는 오류보고 1년 후에 부도처리와 상장폐지 등의 사건이 발생하여 사후적으로도 문제가 있음을 확인할 수 있었다.
두 사례를 종합해보면, 사후적 분석에서 비정상 감사보수와 비정상 감사시간이 감사품질을 유추할 수 있는 지표로 파악될 뿐만 아니라 사전적 분석에서 낮은 감사품질에 비추어서 회계분식 등의 문제가 발생할 수 있는 징후를 예측할 수 있음을 보여주고 있다. 이러한 심층적 사례분석은 대표본(large sample)을 이용하여 감사보수와 감사시간을 감사품질의 대용치로 제시한 기존의 연구를 확인해준 것이라 할 수 있다.

영어초록

This paper measures audit quality with audit fees and hours and analyzes that 1) whether it is low the audit quality of the company having accounting fraud problem (ad hoc analysis) and 2) a company have accounting fraud in the future the audit quality of which is evaluated as low (lexical analysis).
First, we investigated whether audit quality as a prior indicator was low by analyzing audit quality of the firm of lawsuit related to accounting that was estimated to have problems in quality of financial reporting or audit quality. Then, abnormal audit fees and hours were used as measurement of audit quality. Turbotek Co., Ltd., among the firms that had window dressing accounting, were filed of lawsuit by minority shareholders, and were decided of compensation for damages as the plaintiff won the case, was selected to be the case in this study by considering newspapers. As for Turbotek Co., Ltd. that was filed of compensation for damages due to window dressing accounting by adjusted accounting of trading securities, the abnormal audit hours were lower than the mean of the industry and the abnormal audit fees were higher than the mean during the period of window dressing accounting, as expected. There results may indicate that when abnormal audit fees are higher economic dependency relationship increases and independency is damaged, while when abnormal audit hours are lower efforts of auditors are less invested and audit quality is lower.
Second, we identified usefulness of abnormal audit hees and hours as prior indicators in finding out problematic firms by examining audit quality and economic situations after audit for a firm that was expected to be low in financial reporting quality and audit quality. For doing this, VK corporation was selected among the firms reporting prior period error corrections between 2002 and 2008 because it had high abnormal audit fees and low abnormal audit hours. As for VK corporation, the financial reporting quality was lower, and when compared to the mean of the industry, the abnormal audit hours were lower and the abnormal audit fees were higher. Also, there were follow-up problems because it went bankrupt and was delisted one year after the error reporting.
Given the results of the analysis of the two firms, abnormal audit fees and hours could serve as sufficient proxies showing differentiation in audit quality, presenting supplementary explanation on the possibility of abnormal audit fees and hours as proxies showing audit quality, with the results of analysis using large sample.

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