회계감리지적여부가 기업의 타인자본비용에 미치는 영향: 회계감리지적사항 및 조치를 중심으로

This study review accounting supervision system and the characteristics of accounting supervisory company. Additionally, we conducted an empirical analysis on the effect of the characteristics of an audited company on the cost of debt capital of the company, focusing on the latest data on audited companies from 2018 to 2020. As a result of the empirical analysis, it was found that creditors did not reflect additional risk on the audited company as there was no significant relationship between the existence of an accounting supervisory company and the cost of debt. In addition, as a result of analyzing the relationship between whether the company is not subject to accounting supervision related to the note disclosure, whether there is a penalty surcharge related to supervision, and the relationship between the amount of the penalty and the cost of debt, none of them showed a significant relationship. This study is meaningful in that it presents relevant descriptive statistics in terms of conducting a study on the characteristics of an accounting supervisory company using recent data. Firms that are subject to accounting supervision were found to be involved with under(over) statement of sales and assets or liabilities. There is already no additional effect on the cost of debt, and as Korea’s accounting supervision takes a long time of more than one year, it implies the possibility that it has already been reflected in the bond price.