IFRS 시스템구축 컨설팅유형 및 도입준비기간이 IFRS 재무보고의 질에 미치는 영향

After the Korean government announced a roadmap to adopt IFRS for all listed companies from the 2011 fiscal year, listed firms hired experts to establish IFRS financial reporting systems. In order to facilitate IFRS adoption, the government allowed external auditors to provide services to establish IFRS financial reporting systems for their clients. Thus, this study examines whether quality of IFRS financial reporting differs when auditors provide the IFRS-related nonaudit services as opposed to when other experts provide those services or no expert service is provided. Also, the preparatory period for IFRS adoption differs across firms. This study examines whether the preparation period for IFRS adoption is related to quality of IFRS financial reporting. The results reveal that IFRS-related nonaudit services provided by auditors are not significantly related to the quality of IFRS financial reporting. Contrarily, deficiencies in quarterly reports for the first quarter of 2011 are negatively related to auditors' IFRS-related nonaudit services. These results suggest that auditors' IFRS-related nonaudit services do not hamper the quality of clients' financial reporting. We also find that the quality of IFRS financial reporting is positively related to the preparatory period for IFRS adoption.