연결재무제표 회계처리 보수성의 결정요인: 주감사인의 규모와 감사비율

초록

In relation to the full adoption of International Financial Reporting Standards(IFRS), one of significant changes for Korean listed companies would be using consolidated financial statements rather than individual financial statements as the primary financial statements. As a result, it is expected that future accounting related studies will be conducted more often based on the consolidated financial statements and capital market participants in Korea will pay more attention to consolidated financial data in their investment decisions. Considering these changes, this study is intended to analyze the role of auditors in the context of the consolidated financial statements in advance to the full adoption of IFRS. Specifically, this study plans to analyze the effects of the size of principal auditors and their audit coverage on the accounting conservatism reflected in the consolidated financial statements. The results of the empirical study show that a positive correlation exists between the size of principal auditors and the accounting conservatism and between the audit coverage by principal auditors and the accounting conservatism as measured using the consolidated financial statements. In addition, the results show that the positive correlation between the audit coverage by the principal auditors and the accounting conservatism is further strengthened by the size of the principal auditors. This study is considered to provide meaningful information by analyzing determinants of the accounting conservatism in relation to the consolidated financial statements prior to the full adoption of IFRS, which is known as a "principles based" set of accounting standards and often requires professional judgments in the practical application. It is common to find divisions of responsibilities between the principal auditors and other auditors in an audit opinion on the consolidated financial statements. Therefore, the findings of this study can be used as a reference to improve the system of auditor appointment for a group of consolidated companies.

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