결산월 변경 후 비교재무제표 공시에 관한 연구－금융회사의 결산월 변경 사례를 중심으로－

Recently, there have been many companies that have changed their fiscal year－end in Korea. In this process, several problems have been raised. This study provide several practical and policy implications by analyzing the case which related of comparability issue. The sample of the study is 78 saving banks, 5 securities firms, 17 insurance firms, and 17 non－financial companies that have changed their fiscal year－end in last three years. This study examined both the financial statement of the period in which the company changed fiscal year－end and the next coming 1st quarter. The result are as follows. First, there was a difference between financial statement of period in which the company changed fiscal year－end and the next coming 1st quarter. Most companies have disclosed type 1. Second, there were difference depending of the area of industry. The rate of type 1 was 61.10% of Savings banks. but the rate of type 2 was 21.79% and type 3 was 14.11%. The results of the study indicate that various type of comparative financial statement disclosure exist in the marker. Most securities companies and insurance companies have disclosed by a type 1. And the results classified by auditor indicate that the Auditors are also confusing how company have to disclose the comparative financial statement. The reasons for the different types of comparative financial statements disclosed by the company are that the regulations are ambiguous. Vague rules can lead to social waste. unclear regulations can be used by opportunistic purposes. And Declining comparability has bad influence in the reliability of financial statements. Hence, it is necessary for regulators to revise disclosure rules about comparable financial statement for fiscal year changes and strengthening oversight of the internal control system of auditors.