감사기구가 공시품질에 미치는 영향

[Purpose]We try to investigate into the effects of audit systems and disclosure quality. For this study, firstly, we examine disclosure quality between internal audit committee and internal auditor. Secondly, we test the level of disclosure quality between executive auditor and non－executive auditor in commercial law. [Methodology]Using 3,143 samples firm－year of Korea Composite Stock Price Index from 2005 to 2015, we examine disclosure quality between internal audit committee and internal auditor. [Findings]Our empirical results of the study are summarized as follows. Firstly, the level of disclosure quality of audit committee has more increased than that of auditor. But the level of disclosure quality has no difference between voluntarily audit committee and auditor. Secondly, the level of disclosure has no difference between executive auditor and non－executive auditor. [Implications]Our study adds to that body of research by investigating the effects of disclosure quality on statutory internal audit system, an environment where these effects are likely to decrease information asymmetry substantially between audit committee and internal auditor. This study provides an insight that regulators should improve independence and expertise of internal audit system from controlling shareholder.