기업지배구조가 감사품질 및 감사인 선임에 미치는 영향

This study examine whether or not corporate governance choose high quality audits. Also, this study empirically analysis the effects of corporate governance on auditor changes. The sample consists of non-banking firms(3,540 firm-years) with a December fiscal year-end listed on the Korean Stock Exchange over 2004-2009. Empirical findings are summarized as follows. First, overall corporate governance index shows significantly positive relationship with proxy of audit quality. This mean that firms with a high overall corporate governance index are more likely to hire high quality auditors. Second, overall corporate governance index shows significantly negative relationship with variable of auditor changes. This mean that firms with a low overall corporate governance index have a tendency to easily change the auditor. These results suggest that firms with low overall corporate governance index may change auditors to more lenient one who allow managers to exercise their discretion to manage income opportunistically. This research make a contribution in the aspects of proposing the influence of corporate governance through empirical study of relationships between corporate governance and audit quality, auditors changes. Also, this research used the measurement index of Corporate Governance Service to objectively measure overall corporate governance, compared with prior researches. In summary, these results could provide the importance of transparent corporate governance to the regulators and Auditor to pay attention.