내부회계관리제도가 접대비 통제에 미치는 영향

Internal Accounting Management System (hereafter 'IAMS') has been installed to raise firms' accounting transparency and to ensure financial information reliability. The firms that are efficiently operating with IAMS may have higher managerial efficiency and financial information reliability than inefficiently equipped firms. The majority of prior research, however, have merely examined the effects of the weakness in IAMS on the qualities of financial information and capital market response. Therefore, this study empirically examines whether firms with weak and unsound IAMS more spend money to entertainment expenses and firms with weak and unsound IAMS do overmuch exceed Corporate Tax Deduction Limit than those of healthy and sound IAMS. The final samples for test consist of 13,021 firm-year data, selected from the KRX listed companies of the fiscal year during 2006-2015. Managers’ perquisites consumptions are measured as 1) only entertainment expenses (hereafter, PERK1), 2) the sum of entertainment expenses and employee benefits (hereafter, PERK2), and 3) excess of corporate tax deduction limit (hereafter, PERK3). This study a weak IAMS into two measures, Internal Control over Financial Reporting Officer written by firms (hereafter, ICW) and Review paper by auditors (hereafter, REVIEW). The results of this study is as follows. ICW and REVIEW are very significantly reflected in PERK1, PERK2, and PERK3. It is noteworthy that the firms with weak IAMS and the firms with excess of corporate tax deduction limit have spent more money on entertainment expenses irrelevant to the company affairs than efficiently operating firms.