감리지적기업의 재무적 특성에 관한 연구

This study is based on some companies financial reports which contains supervisory comments raised by Securities Division of Financial Supervisory Services. Analysis is further conducted on supervisory disclosed amount for 3 areas such as erroneous net profit amount, erroneous earning surplus amount, omitted amount in public remarks. Auditors tend to assume that top management’s risk of unfair accounting is low when a company shows a high growth record and then would try to reduce range of evidencing audit procedure. But this study found that company’s growth have positive regression coefficient against the anticipation. Therefore the auditors are requested to pay more attention on the rapid growing companies. On the other hand, the supervisory disclosed amount is relatively small for the companies which are over debted. This is because both the management and auditors are cautious about audit results which may bring in severe legal responsibilities. Another finding is that the high growing companies often omit public remarks requirement, in order to maintain good reputation outside, if these give negative effects. Such omission is also found for the companies where top management’s share portion is decreased in accordance with Beneish(1999)’s study showing a relativeness between unfair accounting and reduction of top management’s shares. These study results suggest that auditors shall pay attention, through analytic checking, on certain financial character of companies which have supervisory comments. And therefore help the auditors to bring in efficient audit results. This study, however, leaves a further study for relations between unfair accounting by each accounts and financial characteristics.