감사위원회 품질 및 특성과 외부감사인 사이의 관련성

This study examines the effect of audit committee’s quality on audit firms. The paper further investigates the relationship between audit committee’s characteristics and audit firms. The sample of this study includes 1,461 non－financial firm－year data listed on the Korea Stock Exchange from 2000 to 2012. The main empirical results of this paper are as follows: First, we find that audit committee’s quality is positively related to audit firm’s size. This result support our hypothesis that audit committee with high quality may demand big audit firms to improve external audit quality. Second, we uncover that independence and expertise of audit committee are positively associated with audit firm’s size. These facts suggest that audit committees with independence and expertise will demand higher external audit services to inspect managers’ activities. Third, we show that audit committees’ tie to CEO has negative relation with audit firm’s size. This finding indicates that audit committee tied to CEO will prefer not to inspect managers’ activities.