감사인의 산업전문화와 감사보수의 결정: 감사대상기업의 산업특성에 따른 분석

초록

This research analyzed the effects of auditors' industry specializations on the determination of audit fees depending upon industry characteristics. Industry characteristics were divided into regulated and unregulated industries. The effects of auditors' industry specialization on the determination of audit fees were analyzed based upon auditors' market share method. Analyses were conducted for 5,015 public companies' actual audit fees paid from 2000 to 2006. Empirical analysis showed that for companies in unregulated or less regulated industries, industry-specialized auditors received audit fee premiums. On the other hand, for companies in regulated industries, they didn't receive significant audit premiums than other auditors. Further, auditors specialized in regulated industries received less audit fees than those specialized in unregulated industries. Findings suggest that auditors specialized in unregulated industries are compensated for by perceived higher audit quality. Trying to recover audit costs and thus to maximize audit revenues, auditors specialized in regulated industries appear to increase the audit market shares by low-balling audit fees.

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