한국채택 국제회계기준에 따른 1분기보고서상 공시 충실성과 재량적 이익보고 행태와의 관계

This study investigates the association between mandatory disclosure faithfulness in 1st Quarter Business Report and reporting quality under the K-IFRS. Specifically, using 1,474 firms investigated the degree of disclosure faithfulness by the FSS, we examine the interrelation between faithfulness in qualitative disclosure and quality of financial information recognized in their financial statements. Based on the arguments that informativeness in accounting information revealed in the price is affected by the interaction between disclosed and recognized information, we assume that firms disclosing more faithful qualitative information mandatorily enforced by related regulations will provide better quality of financial information. Results indicate that firms disclosing qualitative information less faithfully report more biased financial information. Furthermore, firms' financial information quality is more biased when they disclose less faithful information about inter-period comparison of financial information or newly required disclosure items under the K-IFRS. Finally, less faithfulness in qualitative disclosure shows strongly positive sign with upward earnings management behavior. Taken together, these results explicit evidences that qualitative information in mandatory disclosure can be interrelated with recognized financial information. Also, Results of this study can provide regulatory bodies with insight on how to control the quality of accounting information under the K-IFRS.