감사실패에 따른 위험요인과 감사인 규모가 감사인의 업무품질관리검토시간에 미치는 영향에 대한 연구

Engagement quality review (EQR, hereafter) is designed to provide objective evaluation to an audit team prior to the audit report date. Audit teams arrived at conclusion based on significant judgment made during the audit engagement, and EQR evaluates the audit team’s professional judgment on the audit engagement. Thus, EQR is a critical step as part of audit engagements ascertain audit quality. However, the value of audit effort exerted into EQR has not been widely recognized by the audit teams or audit clients. First, this study contributes to the existing literature by showing evidence that auditors increase EQR hours according to the audit risk level in order to lower probability of audit failure. Second, this study suggests that Big4 input greater EQR hours than Non－Big4 firms. As a result of the analysis, the higher the financial risk measured by the debt ratio of the audited company, the first auditor, and the listed company, the EQR input time was significantly higher than the unlisted company. In addition, when BIG4 accounting firms conduct audits, we find that these risk factors, listing status, initial auditing, and EQR input time are more strongly related to each other. The results of this study show that the auditors increase the quality of EQR by increasing the EQR input time according to the level of auditing risk and thus try to reduce the risk of audit failure to an acceptable level. Is stronger at BIG4 accounting firms.