표준감사시간제도 도입과 개선방안에 관한 연구

초록

[Purpose] This study reviews the institutional background and related studies of the Standard Audit Hours System(SAHS). This study further attempts to propose improvement schemes for the current SAHS on the basis of the identified issues of the current SAHS by investigating changes in the audit environment after the establishment of the SAHS and the feasibility of the method deriving standard audit hours. [Methodology] Based on firms’ financial data and the data for audit hours and audit fees, this study conducts descriptive statistic and trend analyses. In addition, the study conducts focus group interviews with accounting staffs in the field to figure out drawbacks that firms confront after the establishment of the SAHS. [Findings] This study finds some limitations of the current SAHS such as sample selection bias, ignorance of firm and auditor specific characteristic, double counted factors increasing audit hours, lack of consideration on factors reducing audit hours, inappropriate audit hour rates for audits on the internal accounting control system, mandatory regulation of the SAHS, an upsurge in audit hours and audit fees, little improvement in audit quality, and deterioration in firms’ profitability. In this regard, based on the analyses and the focus group interviews, this study proposes some suggestions to improve the current SAHS as follows： representative sampling, careful consideration on firm and auditor specific characteristics, adding factors reducing audit hours, adjustments in the double－counted factors, realignment in audit hour rates for audits on internal accounting control system, strengthening oversight and monitoring on auditors, enhancing audit capacity, introducing a third party verification process, and installing an information disclosure system. [Policy Implications] This study contributes to accounting literature and policy by providing useful data to examine the effectiveness of the SHAS and by proposing directions for improvement of the SHAS. Furthermore, this study also presents useful information about the motive, implementation status of the SAHS, and potential problems from the implementation of the SHAS, which can enhance corporate stakeholders’ understanding on the changes in the audit environment due to the establishment of the SAHS and help their decision making.

키워드