투자부동산의 공정가치모형 선택이 감사보수 및 감사시간에 미치는 영향

[Purpose]This study analyzes the relationship between the selection of the fair value model of investment property subject to K－IFRS 1040 and the audit fees and audit hours. In addition, we examine the auditor size such as BIG4 auditor, on the relationship between the selection of fair value model of investment property and audit fees(hours). [Methodology]The research model refers to the audit fees and hours model of the previous research (Kwon and Ki 2011 and etc.). The sample is analyzed using 8,704 company－year samples from 2011 to 2016, which have been applied since the adoption of K－IFRS. We also use the BIG4 auditor dummy variable to analyze the effect of size of auditor size. [Findings]The selection of fair value model for investment property for full sample showed a significant positive correlation with audit fees and audit hours. This is because the choice of fair value model compared to the cost model of investment property increases audit hours due to the complexity of the audit procedure for unstructured tasks such as selection of fair value and reliable measurement, And it is interpreted as reflecting in remuneration. And such relevance came from the BIG4 auditor with a relatively structured audit process. [Implications]This study showed that firms’ fair value model accounting choice affects the auditor's risk assessment and effort. There is also a contribution point that the response of the auditor according to the company’s application of fair value accounting is based on auditor size.