감사시간공시의 적정성 연구

초록

The purpose of this study is to examine the reliability of the audit hours disclosed in annual report by investigating its accuracy. The disclosure of audit hours is subject to errors because the corporations can not exactly calculate all the time spent to carry out the audit works. This study investigated the fairness of the audit hours in the company’s annual report. We analyzed the feedback from prepared questionnaires to the persons in-charge of preparing the disclosures in annual report submitted to the Korea Stock Market and KOSDAQ Market. Furthermore, we compared the actual audit hours recorded in the auditor’s time report for corporate audits of listed companies as against the disclosure in annual report.We found out that there are many types of disclosure errors in audit hours, which can undermine the reliability of the mandatory disclosures of audit hours. We also found out that even though the corrections of audit hours were made in the succeeding year’s annual report, there were still wrong disclosures of audit hours in the current annual report disclosure.By providing evidence of errors of audit hour disclosures to regulators, we expect that the existing method will be improved to enhance the reliability of audit hour disclosures.