내부회계관리제도의 인적자원 특성과 경영자-감사인간 의견불일치 : 감사 전(前) 재무제표의 증권선물위원회 제출의무화 규정을 중심으로

The provision of compilation service by an auditor was prohibited by the amendment of the External Audit Act in 2013. This study aims to assess the effectiveness of the amendment by examining whether the relationship between the characteristics of human resources in Internal Control (IC personnel) and auditor-client disagreement is strengthened after the amendment. A more sufficient and qualified IC personnel would produce stronger internal control system, which in turn reduces earnings revisions (auditor-client disagreement). Thus, we predict that if the amendment achieves its objective to reduce auditors’ compilation service, the effect of IC personnel on auditor-client disagreement would be strengthened after the amendment. We find that the number (quantity) and the average experience (quality) of IC personnel are negatively associated with the auditor-client disagreement. However, contrary to our expectation, the association was not strengthened after the amendment. This finding could raise the possibility that auditors still provide compilation services to their clients even after the amendment. Consistent with the possibility, the firms that hired more experienced IC personnel after the amendment are found to be less likely to revise earnings than the ones that did not.