경영자 변경이 감사인 교체에 미치는 영향

The reliability of an auditor report may be impaired if managers influence the selection or the procedures for selecting an auditor. This study is to analyze how manager will have an influence on the procedures of auditor selection in Korea. In this study, we selected 8,737 samples where managers were changed for the period from 1987 to 2003 and conducted an empirical test with a LOGIT model to examine whether managers tend to change their auditors during the initial stage of their tenure. The results of analysis indicate that there were significant auditor changes during the initial stage of manager's tenure, which were consistent with not only those companies with an annual contracting requirement but also those subject to the 3-year auditor retention requirement. This was also consistent with companies with audit committees or those without audit committees. The findings of this study are important in the sense that it examined whether managers perform auditor changes during the initial stage of their tenure, given that there is very little study on this despite the fact that auditor independence could be impaired if managers have an influence on the auditor selection process. This study is anticipated to provide useful suggestions for academics, practitioners and regulators attempting to improve the reliability of auditor report.