재무보고이익과 세무보고이익의차이에 관한 연구 - 감사인 유형과 감사의견을 중심으로

This paper first analyzes the effect of auditor types on book－tax reporting differences as measures of earnings management. Additionally, we empirically investigates the effect of book－tax reporting differences on audit opinions decisions. The sample consists of non－banking firms(1,131 firm－years) with December fiscal year listed in Korean Stock Exchange over 2000－2003. Empirical findings are summarized as follows：First, there is significant positive association between book－tax reporting differences as measures of earnings management and NonBIG5 auditors. Generally auditors with low quality can easily acquiesce to manager's pressure, including pressure to allow earnings management. So managers who hire the low quality auditors are more likely to have opportunistic intention to increase income. Second, the larger the book－tax reporting differences are, the more modified opinions issued by auditor issues are. Because book－tax reporting differences contain useful information as measures of detecting earnings management, auditors with large book－tax reporting differences are more likely to issue the modified opinion by reason of disagreement with management in respect of the financial statement. These results imply that auditor types have an effect on book－tax reporting differences and also book－tax reporting differences affect audit opinions decisions. But up to the present there is no study empirically to examine how book－tax reporting differences can affect the audit system. Thus, exploring the relation between the book－tax reporting differences and auditor types/audit opinions decisions is clearly an interesting and important research topic. We expect that this study will provide the useful information to policy makers, external auditors and investors.