내부회계관리제도 감사가 외부감사인의 감사노력에 미치는 영향

[Purpose]The purpose of this study is to empirically analyze the impact of the audit of Audit of Internal Control Financial Reporting (ICFR), which is sequentially applied from the 2019 fiscal year, on audit efforts. From the 2019 fiscal year, the certification level of external auditors has been sequentially raised from ‘review’ to ‘audit’ according to the size of the company. This is a stricter law for auditors, strengthening the auditor's responsibility, and it is expected that audit efforts will increase due to increased audit risk for ICFR audit failures. [Methodology]The sample period is from 2017 to 2020. Audit efforts before and after the application of the ICFR audit were analyzed. Companies subject to the 2019 ICFR audit are companies with a size of more than 2 trillion in the previous year, and companies subject to the 2020 internal accounting management system audit are companies with a size of more than 500 billion. [Findings]As a result of the empirical analysis, as the ICFR was audited, the scope of the audit and the responsibility of the auditor increased, and the audit hour significantly increased in all samples, and the audit fee increased due to the increase in the audit time. However, the audit report lag and audit report filing lag were not significant or consistent results were not shown as they increased or decreased significantly in some samples. [Implications]Through this study, as the auditor’s certification level for ICFR was raised from ‘review’ to ‘audit’, it was examined whether there was a difference in the auditor’s efforts, and there was a difference from the previous studies examined from the auditor’s point of view. In addition, there are implications by indirectly examining the auditor’s efforts through audit time and audit remuneration, as well as the audit report lag and audit report filing lag.