관리종목 편입이 감사보고시차에 미치는 영향

초록

The purpose of this research is to examine the effects of including administrative issues on the lag of audit report. The auditor establishes overall plans of audit before starting the auditing. Then, the auditor should evaluate the audit risk of the company subject for auditing and establish the auditing plan based on the evaluation results. The auditor judges the company with high possibility of delisting as low viability and could set the target audit risk as low. Moreover, after introducing the class action system in 2005, the auditor faces more risk of liability suit in case of poor auditing. Under this circumstance, if the auditee company has high possibility of delisting, the auditor gets more risk of facing a lawsuit. Namely, if possibility of delisting is evaluated as high, the auditor would input additional efforts in the auditing in order to collect audit evidences for the purpose of lowering the audit risk to an acceptable level. The company designated with administrative issues has high possibility of delisting. Therefore, the auditor may plan additional audit works such as expanding internal control evaluation procedure or increasing interviews with the management in order to accomplish the low target audit risk and decrease the high risk of getting lawsuit when auditing the company in administrative issues. This will increase the hours devoted to the audit work and delay audit completion time. Based on this background, this research analyzed the effect of administrative issues on the lag of audit report. The hypothesis that a company in administrative issues increases lag of audit report is supported by empirical results. This means that the auditor recognizes the company included in the administrative issues as risky for auditing when he or she conducts audit work. The audit hours used as a substitute measure of audit efforts in the preceding research has a problem with reliability since they were recorded by the subjective determination of the auditors. Since the audit report date is stipulated on the accounting audit standard, the lag of audit report is regarded as more reliable measure for the audit efforts. This research may be significant that it tries to secure the validity of results in terms of using the lag of audit report as a substitute measure for the audit efforts.

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