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• 영문명: An Empirical Analysis of Discriminating Factors in Korean Auditor's Judgment on Consistency
• 발행기관: 인하대학교 산업경제연구소
• 저자명: 이성규(Sung-Kyu Lee)
• 간행물 정보: 『경상논집』연구논문집 제1집, 237~285쪽, 전체 49쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1987.05.01

영문 초록

Materiality is a concept which pervades the financial accounting and reporting process and also is inherent in the auditor's opinion. The legal and regulatory environment supports the user-oriented criterion, while none provides specific rules pertained to general materiality decisions except Australian case. Substantial research efforts on this topic can't provide satisfactory results for the purpose of setting up a guideline. Diverse items and events examined prevent the generalization and the influencing factors considered are not comprehensive enough. Also, the form of decision model is different by the group of users and by the research. This study is to analyze the factors influencing Korean auditor's materiality judgments on accounting changes. On the basis of past researches on materiality, this study identifies ten variables expected to affect auditor's decision on consistency exception: change effects on net income (EFF), net income before the change (BEF), relative importance of the effects to BEF (NIR), types of corporations involved (PART), types of accounting changes (CHAN), net worth (ASSE), number of stocks issued (STOC), profit/loss before the change (BEFP), conversion of BEFP by the change (AFTP), and type of accounting firm involved (NAME1). Among these 10 variables, descriptive variables are PART, CHAN, BEFP, AFTP and NAME 1. PART classifies the corporations involved into the companies registered with Korean SEC and the companies regulated only by the Law on Independent Audit. CHAN indicates whether the accounting change involved is related to depreciation. BEFP divides the companies into two groups; One with net income before the changes and the other group with net loss, while AFTP identifies the companies of which the net income or net loss is switched by the accounting change. These two elements reflect the profitability and the possibility of accounting manipulation. NAME 1 classifies accounting firms involved into ones affiliated with international firms and the other group. The sample for this study consists of 67 companies which discretionally changed accounting methods in 1984. This sample includes 45 registered companies (PART), 47 cases of depreciation changes(CHAN), and 25 auditor's exceptions on consistency. Sample data show that the distributions of continuous variables are highly skewed with high value of kurtosis. According to the correlation analysis, audit opinion is relatively, highly correlated with four variables: EFF, PART, AFTP and NIR. Among the ten variables, PART is the variable indicating some correlation with STOC, AFTP and NIR. Multiple discriminant analysis singles out six variables to be included in cannonical discriminant function: EFF, NIR, ASSE, BEFP, AFTP, and NAME 1. The magnitude of standardized coefficients of these six variables is in the order of EFF, ASSE, BEFP, AFTP, NIR, and NAME 1. The cannonical correlation coefficient of discriminant function is 0.46129 with significant level of 0.0211. The cannonical discriminant function correctly classifies the audit opinion in the sample with 73%: 93% of standard opinion and 40% of modified opinion. In summary, this result indicates korean auditors not only evaluate the magnitude of accounting change effects, the size of effects relative to net income, and the size of corporation but also consider qualitative elements such as the profitability of the company and the possibility of accounting manipulation. As to the corporate size factor, Frishkoff (1970) already explained the reasons thereof, while Stringer(1970) declined to accept such result. Interestingly enough, the type of accounting firm is also one of determinant factors.

목차

Ⅰ. 문제의 제기

Ⅱ. 중요성의 개념검토

Ⅲ. 중요성에 관한 과거의 연구

Ⅳ. 우리나라 감사인의 중요성판단요소 분석

Ⅴ. 결론

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참고문헌

Abstract