재무제표 약식 인증수준 별 비외감 중소사업자의 형태에 따른 이익조정 실태에 관한 연구

[Purpose] This study analyzes whether non－audited SMEs in Korea are motivated to engage in upward earnings management to facilitate borrowing loans from financial institutions. [Methodology]Specifically, this study uses non－audited firms’ observation of year 2004 to year 2010, and investigates the extent of accrual earnings management by the type of business(corporate vs individual business). [Findings]Empirical findings of this study show that upward earnings management tendency of tax government’s certification on financial statements of individual business is stronger than that of corporate. And upward earnings management tendency of tax agent’s confirmation on financial statements of corporate is stronger than that of individual business. Furthermore, tax government’s certification and tax agent’s confirmation on financial statements of loss incurred individual business is stronger than that of loss incurred corporate. [Policy Implications]The results of this study indicate that non－audited SMEs conduct earnings management via accruals to achieve loan borrowing goals. It provides clues to suspect the accounting transparency of non－audited firms. It will be helpful for academics and practitioners for understanding the earnings management of non－audited SMEs by the type of corporate and individual business.