• Journal of the Korea Convergence Society
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• v.13 no.5
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• pp.219-228
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• 2022

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.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.61-67
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• 2020

This paper examines whether the combination of risk management and audit committee functions are associated with audit report lag. Audit report lag is considered an important aspect of the financial reporting. The financial reports are the main source of information for shareholders through which they make their decisions and it assists in reducing the information asymmetry. As the internal control mechanisms substitute the external ones, the internal board committees formed by the board of directors can reduce the audit work and, consequently, reduces the audit report lag. A key committee is the risk management committee. This paper examines whether the combination of risk management and audit committee functions are associated with audit report lag. We posit that a combination of such functions in one committee refereed as audit committee affects the audit report delay. Data were obtained from 198 manufacturing companies listed on the Saudi Stock Exchange (Tadawul) for the years 2016-2018. A pooled OLS regression analysis shows that a combination of risk management and audit committee functions in a stand-alone committee named "audit committee" is associated with longer audit report lag. The outcomes suggest companies should prioritize the establishment of standalone risk management committee with activities separated from those of audit committees.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.525-532
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• 2021

This study examines the association between a firm's business strategy and audit report lags. This study employs 5,072 firm-year observations from 2015 to 2019. Our sample comprises all of the firms listed on the Korea Composite Stock Price Index (KOSPI) market and Korea Securities Dealers Automated Quotation (KOSDAQ). We perform OLS regression analysis to test our hypothesis. The OLS regression analysis was conducted through the SAS and STATA programs. We find that business strategy is positively associated with audit report lags. Especially, we find that defender firms are negatively associated with audit report lags. The findings of this study suggest that prospector-like firms would increase their performance uncertainty as well as audit risk. Therefore, prospector-like firms interfere with the efficient audit procedures of auditors. On the other hand, our findings indicate that defender-like firms would decrease their performance uncertainty as well as an audit risk because they focus on simple product lines and cost-efficiency. For this reason, auditors will be able to carry out the audit procedures much more easily. Our results present that a prospector-like business strategy degrades audit effectiveness as it exacerbates a company's financial risk, willingness to accept uncertainty, and the complexity of organizational structure.

• Management Science and Financial Engineering
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• v.10 no.1
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• pp.53-75
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• 2004

Most existing studies on time-dependent networks have been focused on finding a minimum delay path given a departure time at the origin. There, however, frequently happens a situation where users can select any departure time in a certain time interval and want to spend as little time as possible on traveling the networks. In that case. the delay spent on traveling networks depends on not only paths but also the actual departure time at the origin. In this paper, we propose a new problem in time-dependent networks whose objective is to find an optimal departure time given possible departure time interval at the origin. From the optimal departure time, we can obtain a path with minimum delay among all paths for possible departure times at the origin. In addition, we present an algorithm for finding an optimal departure time by enumerating trees which remain shortest path tree for a certain time interval.

• The KIPS Transactions:PartC
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• v.8C no.5
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• pp.597-606
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• 2001

In this paper, we propose the delay sensitive traffic and a high bandwidth QoS service in order to supply real-time traffic such as VoIP, multimedia service. We use IntServ over DiffServ network to supply end-to-end QoS service in the IETF. We define the proposed QoS services which are Best, Good, Default service. We analyze the performance using NS simulator with end to end QoS service in IntServ over DiffServ network. The proposed billing system uses the Accounting, Authentication, Authorization (AAA) functions of RADIUS protocol and proposes the dynamic pricing method according to network usage state using end-to-end QoS of IntServ over DiffServ network. In order to secure billing system, we design and implement audit trail system by the IEEE POSIX.1E standard.

• Journal of Distribution Science
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• v.15 no.8
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• pp.47-54
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• 2017

Purpose - According to agency theory, managers have incentives to adjust firm revenues to meet earnings expectations or delay bad news disclosure because of performance-based compensation and their reputation in the market. When the bad news accumulates, stock prices fail to reflect all available information. Thus, market prices of stocks are higher than their intrinsic value. After all, bad news crosses the tipping point, it comes out all at once. That results in stock crashes. Auditors can decrease stock crash risk by reducing agency costs through their informational role. Especially, stock price crash risk is expected to be lower for firms adopting high-quality audits. We focus on distribution and service industry to examine the relation between audit quality and stock price crash risk. Industry specialization and auditor size are used as proxies for auditor quality. Research design, data and methodology - Our sample contains distribution and service industry firms listed in KOSPI and KOSDAQ during a period of 2004-2011. We use a logistic regression to test whether auditor quality influences crash risk. Auditor quality was measured by industry specialist auditor and Big4 / non-Big4 dichotomy. Following the approach in prior researches, we use firm-specific weekly returns to measure crash risk. Firms experiencing at least one stock price crash in a specific week during year are classified as the high risk group. Results - The result of analyzing 429 companies in distribution and service industry is summarized as follows: Above all, it is shown that higher audit quality has a significant negative(-) effect on the crash risk. Crash risk is alleviated for firms audited by industry specialist auditors and Big 4 audit firms. Therefore, our results show that hypotheses are supported. Conclusions - This study is very meaningful as the first study which investigated the effects of high audit quality on stock price crash risk. We provide evidence that high-quality auditors reduce stock price crash risk. Our finding implies that the risk of extreme losses can be reduced through screening of high-quality auditors. Therefore investors and regulators may utilize our findings in their investment and rule making decisions.

• Korean Journal of Digital Imaging in Medicine
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• v.10 no.2
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• pp.17-22
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• 2008

It is to improve customer satisfaction measurement and CT Scan process without delay of examination time when is using Scan positioning time(Planning time) that time is happened always between research reactor CT examination to increase fear and examination satisfaction by the customer's comprehension tribe which get the latest contrast enhancement CT examination. Needs and interests that customer wants to compose visual and auditory Contents to be played to Scan positioning time did questionnaire about curiosity later before CT examination to 600 people for October - November 2 months of 2006 to customer whole that get CT examination on source. Data getting through questionnaire investigated examination comprehension and satisfaction through questionnaire after experiment Scan Positioning to 500 coming to help customers to be source CT examination for 3 months February December - 2007 year in 2006 manufacturing Voice and Visual announce media for reference. To customer who interest degree appeared, and answers preparatory audit from preparatory audit about curiosity of CT examination customer to order of examination time required(43%), contrast media side effect(26%), examination region(20%), breath(10%), etc..(1.5%) audio-visual materials in questionnaire that attain after do reclamation among examination age, sex, reception type of irrelatively in 91% of target increase of hailing degree and examination satisfaction appear. Searched that customer hailing and satisfaction are increased greatly when use of audio-visual materials in satisfaction result that use CT Positioning delay time. In experiment process, It took lacking part by method that use hearing in case of do not use sight as is unavoidable in subject position or old age. Through this, audio-visual materials could analogize that it is more useful method that use sight and hearing at the same time.

• Journal of the Korean Society of Radiology
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• v.12 no.1
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• pp.53-64
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• 2018

Using the AUDIT-K (Korean versions of alcohol use disorders identification test), it was able to select a large number of potential danger drinkers who routinely live. There were no statistically significant differences in age, religion, marital status, occupation, family history of alcohol drinking, age at onset of alcohol use, smoking, and BMI (body mass index). However, only education and drinking periods were statistically significant. These results are consistent with the previous study, which suggests that alcohol consumption is higher among men who are educated. The level of education also suggests that there is a need to look at the differences depending on what you learned and how. Alcohol consumption by education also shows different results. Also, drinking at a young age will lead to a longer drinking period, which is consistent with previous studies on the age at onset of drinking. In this study, drinking period was the most important factor of alcohol use disorder and it is considered that measures and education of national government system which can delay drinking age as much as possible is needed as a method to shorten drinking period.

• The Korean Journal of Air & Space Law and Policy
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• v.28 no.1
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• pp.115-157
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• 2013

Some contracting States of the Convention on International Civil Aviation (commonly known as the Chicago Convention) issue FAOC(Foreign AOC and/or Operations Specifications) and conduct various safety audits for the foreign operators. These FAOC and safety audits on the foreign operators are being expanded to other parts of the world. While this trend is the strengthening measure of aviation safety resulting in the reduction of aircraft accident, it is the source of concern from the legal as well as economic perspectives. FAOC of the USA doubly burdens the other contracting States to the Chicago Convention because it is the requirement other than that prescribed by the Chicago Convention of which provisions are faithfully observed by almost all the contracting States. The Chicago Convention in its Article 33 stipulates that each contracting State recognize the validity of the certificates of airworthiness and licenses issued by other contracting States as long as they meet the minimum standards of the ICAO. Consequently, it is submitted that the unilateral action of the USA, China, Mongolia, Australia, and the Philippines issuing the FOAC to the aircraft of other States is against the Convention. It is worry some that this breach of international law is likely to be followed by the European Union which is believed to be in preparation for its own unilateral application. The ICAO established by the Chicago Convention to be in charge of safe and orderly development of the international civil aviation has been in hard work to both upgrade and emphasize the safe operation of aircraft. As the result of these endeavors, it prepared a new Annex 19 to the Chicago Convention with the title of "Safety Management" and with the applicable date 14 November 2013. It is this Annex and other ICAO documents relevant to the safety that the contracting States to the Chicago Convention have to observe. Otherwise, it is the economical burden due to probable delay in issuing the FOAC and bureaucracies combined with many different paperworks and regulations depending on where the aircraft is flown. It is exactly to avoid this type of confusion and waste that the Chicago Convention aimed at when it was adopted in 1944. The State of the operator shall establish a system for both the certification and the continued surveillance of the operator in accordance with ICAO SARPs to ensure that the required standards of operations are maintained. Certainly the operator shall meet and maintain the requirements established by the States in which it operate. The authority of a State stops where the authority of another State intervenes or where the former has yielded its power by an international agreement for the sake of international cooperation. Hence, it is not within the realm of the State to issue FAOC towards foreign operators for the reason that these foreign operators are flying in and out of the State. Furthermore, there are other safety audits such as ICAO USOAP, IATA IOSA, FAA IASA, and EU SAFA that assure the safe operation of the aircraft, but within the limit of their power and in compliance with the ICAO SARPs. If the safety level of any operator is not satisfactory, the operator could be banned to operate in the contracting States with watchful eyes until the ICAO SARPs are met. This time-honoured practice has been applied without any serious problems. Besides, we have the new Annex 19 to strengthen and upgrade with easy reference for contracting States. We don't have no reason to introduce additional burden to the States by unilateral actions of some States. These actions have to be corrected. On the other hand, when it comes to the carriage of the Personal or Pilot Log Book, the Korean regulation requiring it is in contrast with other relevant provisions of USA, USOAP, IOSA, and SAFA. The Chicago Convention requires in its Articles 29 and 34 only the carriage of the Journey Log Book and some other certificates, but do not mention the Personal Log Book at all. Paragraph 5.1.1.1 of Annex 1 to the Chicago Convention even makes it clear that the carriage in the aircraft of the Personal Log Book is not required on international flights. The unique Korean regulation in this regards giving the unnecessary burden to the national flag air carriers has to be lifted at once.