감사위원회가 영업권 손상차손 인식 관련 의사결정에 미치는 영향

[Purpose] This study examines the effect of audit committees on goodwill impairment which can be potentially used to manage financial reports opportunistically. [Methodology] Using a comprehensive data set of listed firms from 2011 to 2018, this study tests the effect of audit committee existence, audit committee independence, audit committee expertise on the recognition of goodwill impairment when there exists an indication of impairment loss. [Findings] The results show that audit committee existence is significantly associated with the recognition of goodwill impairment when there exists an indication of impairment loss. However, this study finds that audit committee independence and audit committee expertise are not significantly associated with the recognition of goodwill impairment when there exists an indication of impairment loss. The results of additional tests suggest that audit committee existence increases the size of goodwill impairment and decreases delaying the recognition of goodwill impairment. [Implications] This study has implications for the role of the audit committee as it is the first attempt to directly investigate the effect of effective monitoring by the audit committee on complex estimates such as goodwill impairment.