Journal of the Korea Convergence Society (한국융합학회논문지)

Korea Convergence Society (한국융합학회)
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The Effect of Business Strategy on Audit Delay

기업의 경영전략이 회계감사 지연에 미치는 영향

  • Kim, Jeong-Hoon (Department of Accounting, Soongsil University) ;
  • Kim, Min-Hee (Department of Accounting, Soongsil University) ;
  • Do, Kee-Chul (Department of Accounting, Soongsil University) ;
  • Lee, Yu-Sun (Department of Accounting, Soongsil University)
  • Received : 2022.02.10
  • Accepted : 2022.05.20
  • Published : 2022.05.28
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Abstract

In order to improve audit quality, it is essential to understand the occurrence of disagreement between auditors and managers, and this study aims to analyze the impact of Business Strategies on audit risk and accounting audit delay. To this end, we conducted an empirical analysis using sample 2,910 firm-year data from 2018 to 2020 of KOSPI-listed and KOSDAQ-listed companies. The results of the empirical analysis of this study are as follows. First, compared to the companies of defender type, prospectors can expand audit procedures for new products, R&D costs, and intangible assets, and increase audit delays due to disagreement between managers and auditors. Second, compared to KOSPI-listed companies, the prospectors in KOSDAQ are more likely to have lower financial reporting quality, which further increases audit delays. The results of this study analyzed whether a company's Business Strategy affects the possibility of disagreement between an auditor and a company, and verified whether there is a difference in the audit report lag by stock market. The results of this study show that auditors' strong duty of care is needed for the companies of prospector type with high audit risk, and it is meaningful to present reinforced audit systems and specific guidelines for the companies of prospector type through the definition of prospector type. It also enables the expansion of research to identify the relationship between non-financial factors and audit risks that make up the companies of prospector type.

감사품질의 제고를 위해 감사인과 경영자 간 의견불일치 발생에 대한 이해는 필수적이며, 본 연구는 회계적 관점이 아닌 기업의 경영전략 유형이 감사위험과 회계감사 지연에 미치는 영향에 대해 분석하고자 한다. 이를 위해 유가증권 및 코스닥 상장기업의 2018년부터 2020년까지의 표본 2,910 기업-연도 자료를 이용하여 실증분석하였다. 본 연구의 실증분석결과는 다음과 같다. 첫째, 방어형 기업에 비해 선도형 기업은 신제품, 연구개발비용, 무형자산 등에 대한 감사절차를 확대시킬 수 있고, 경영자와 감사인 간에 의견불일치로 인해 감사지연을 증가시키는 것으로 나타났다. 둘째, KOSPI 상장 기업에 비해 KOSDAQ 내 선도형 기업은 재무보고품질이 낮아 감사지연을 더욱 증가시키는 것으로 나타났다. 본 연구의 결과는 기업의 경영전략이 감사인과 회사 간의 의견불일치 가능성에 영향을 미치는지 분석하고, 주식시장 별로 감사시차에 차이가 있는지 검증하였다. 본 연구결과는 감사위험이 높은 선도형 기업에 대해 감사인의 강한 주의의무가 필요함을 보여주며, 아울러 선도형의 정의를 통해 선도형 기업에 대한 강화된 감사제도와 구체적인 가이드라인을 제시할 수 있다는 정책의 의의를 갖는다. 또한 향후 선도형 기업을 구성하는 비재무적 요소와 감사위험의 관계를 규명하는 후속 연구가 수행될 것을 기대한다.

Keywords

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