국제간 비교를 통한 효과적인 상장기업 감사인 감독제도의 구축에 관한 연구

Considering the recent accounting revolution for listed companies in Korea, such as the legal requirement to ensure an effective and reliable internal control system and the full adoption of International Financial Reporting Standards, it is time to review the Korean statutory supervisory system on the auditors of listed company. This study reviews the statutory supervisory system of U.S., U.K., Japan, Australia, Canada, Singapore, and provides some guidelines for the possible future reform of effective and efficient statutory supervisory system on auditors of listed company. First, U.S., U.K., and the other countries established an independent and professional organization responsible for the oversight of auditors’ auditing quality since Enron scandal. For example, the PCAOB(Public Company Accounting Oversight Board) is a private-sector and non-profit corporation, created by the Sarbanes-Oxley Act of 2002, to oversee the auditors of public company. Also, the POB(Professional Oversight Board) is an operating body of the FRC(Financial Reporting Council), which is the U.K.’s independent regulator responsible for promoting confidence in corporate reporting and governance. The POB oversees and monitors the quality of the auditing function in related to listed and other economically significant entities. Therefore, we may consider one independent and private-sector to promote efficiency and effectiveness of oversight on the auditors of listed company. Second, U.S., Canada, and Singapore require auditors of listed company to register with an auditor-oversight organization such as the PCAOB, the CPAB (Canadian Public Accountability Board), and the Public Accountants Oversight Committee of Singapore. On the other hand, U.K. and Japan require auditors to register with the professional accounting body, such as the Institute of Chartered Accountants in England and Wales and the Japanese Institute of Certified Public Accountants, which is overseen by the auditor-oversight organization such as the POB and the CPA and Auditing Oversight Board of Japan. Based on the review, we suggest what we called “Bottom-Up auditor registration system.” It require all auditors to register with the Korean Institute of Certified Public Accountants and the auditors of listed company to register with not only the Korean Institute of Certified Public Accountants but also the Securities and Futures Commission. The auditor registration system allows the auditor-oversight organization to oversee consistently all auditors, including foreign auditors that audit foreign companies listed on Korea Stock Exchange.