대출기업과 주거래은행이 동일한 감사인에게 감사받는 경우 대출기업의 감사품질이 높아지는가?

This study analyzed whether the audit quality is improved when the audited company, which is a borrowed firm, is audited by the same auditor as the main bank for companies listed stock market from 2013 to 2021. In the case of implementing the main bank system as in Korea, the main bank, whom mainly provide loans for firms, is likely to play an important role as a corporate mornitoring mechanism. Therefore, if the auditor of the firm who borrowed money from the main bank and the auditor who audit the main bank are the same, then the high monitoring of the main bank may act as an audit risk from the auditor's point of view. The results of this study are as follows. As a result of analyzing the hypothesis that audit quality would increase if the borrowed company and the main bank were audited by the same auditor, this hypothesis was not supported in the full sample. However, as a result of additional analysis by separating the debt ratio and the market, the hypothesis was supported in the sample with a high debt ratio sample and KOSDAQ market sample. Specifically, unlike the case where the debt ratio is low, in the case where the debt ratio is high, the audit quality is significantly improved by same auditor. This is interpreted as that under an environment where monitoring by financial institutions works strongly, audit quality is significantly improved when the main bank and the borrowed company from main bank are audited by the same auditor. This study contributes to provide the empirical results that the relationship between the main bank and the firms could act as one of governance structure.