파트너 감사시간이 감사품질에 미치는 영향: 계속감사기간을 중심으로

Prior studies have consistently investigated the relation between audit hours and audit quality. In this regard, prior studies show that audit hours are related to audit quality. Specifically, prior researches’ findings show partner hours are related to audit quality. This research tests the effects of audit tenure on the association between partner hours and audit quality. Following prior researches, this study uses absolute value of discretionary accruals as the proxy for earnings management. The sample consists of manufacturing companies traded over Korean Stock Exchange and Korea Securities Dealers Association Automated Quotation during 2014~2016(4,949 firm/years). The empirical findings are as follows. First, after controlling for variables associated with audit quality, the partner hours are significantly positively associated with audit quality. Second, the partner hours are significantly positively associated with audit quality when audit tenure is longer. These results indicate that audit tenure affects the association between partner hours and audit quality. This study tests some additional empirical tests using other types of partner hours variables and the results are robust. This research contributes to the investors and regulators by suggesting the effects of audit tenure on the association between partner hours and audit quality.