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http://dx.doi.org/10.5392/JKCA.2020.20.10.750

Additional Disclosure of Consolidated Audit Details and Auditor Response  

Yun, Yongsuk (한남대학교 경상대학 회계학과)
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The Journal of the Korea Contents Association / v.20, no.10, 2020 , pp. 750-759 More about this Journal
Abstract
This study examine the relation between additional disclosure information of external audits details on consolidated financial statements, audit hours, and audit fees. The results of the analysis of listed companies that disclosed consolidated financial statements from 2014 to 2016 are as follows. First, the additional disclosures of the consolidated financial statements external audit is positively associated with the audit hours of the auditor. This result can be interpreted that the additional disclosure of the consolidated audit information is based on the incentive to provide useful information of auditor. Second, the audit fees of the auditors for additional disclosures in the consolidated financial statements were not significantly related. This suggests that, the additional disclosure of the consolidated audit practice is not based on the auditor's perception of the audit risk. This study provides that information on the external audit details of audit reports and consolidated audit reports is distinguished and disclosed, providing useful information to researchers. In addition, this study suggests policy implications by demonstrating that disclosure of the details of the external audit of the consolidated financial statements is based on the auditors' incentive to provide useful information.
Keywords
External Audit Details; Consolidated Audit Report; Consolidated Audit; Audit Hours; Consolidated Financial Statement;
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