비상장기업의 IFRS 도입: 기업특성과 재무제표에 미치는 영향

초록

The number of companies that voluntarily adopt IFRS among non-listed companies that are not subject to K-IFRS is increasing. Despite the burden of shortening the disclosure period, application of complex accounting standards, and the cost of introducing the IFRS, these unlisted companies are required to comply with accounting standards between the parent company and its subsidiaries, promote listing, enhance corporate image and corporate image, It is also known to select IFRS for procurement, etc. However, the survey results show that a number of unlisted companies that have adopted the International Financial Reporting Standards (K-IFRS) have disappeared in the form of being closed or merged or not included in the scope of the external audit under the external audit. Of the 1,552 unlisted companies that voluntarily introduced K-IFRS, 1,172 companies (75.5%) continued to apply IFRS, while the remaining 24.5% (380) were merged(122) or closed(77). There were also companies that were not subject to external audit (77) and even converted to K-GAAP (22). On the other hand, the larger the size of the firm, the bigger the company, the higher the total assets growth rate, and the shorter the company history, the more voluntarily adopts the IFRS. On the other hand, the existence of dominant relations, the debt ratio, the return on total assets, the share of exports, and the tax burden are not related to the characteristics of the IFRS voluntary adopters. Furthermore, in order to understand the changes in the financial status and business performance of unlisted companies adopting IFRS, comparative analysis with K-GAAP unlisted companies using financial variables that were expected to be related to the characteristics of unlisted companies adopting IFRS . As a result of the analysis, it has been found that the size of the unlisted companies applying IFRS continues to increase even after the introduction of IFRS. In addition, ROA, which indicates accounting profit, tends to increase statistically significantly compared to matching firms before and after IFRS adoption, but it was not a continuous phenomenon. On the other hand, there was no statistical difference in operating cash flow between K-IFRS adopters and K-GAAP matching firms after IFRS adoption. Finally, the debt-to-equity ratio of non-listed IFRS firms increased before and after IFRS adoption, but no statistical significance was found with K-GAAP applied firms. The results of this study are expected to provide useful information for decision making of accounting information users such as unlisted companies preparing to introduce IFRS and related supervisory authorities.

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