감사인측 전문가 투입시간이 감사품질에 미치는 영향

[Purpose] This study explores the relationship between audit hours by auditors’ specialists and audit quality, assessing whether this relationship varies depending on the size of the audit firm and the changes in time spent by auditors’ specialists compared to the previous period. [Methodology] The analysis encompasses companies listed on both KOSPI and KOSDAQ market from 2014 to 2021. The dependent variables are discretionary accruals from the modified Jones model(Dechow et al. 1995) and Kothari et al. (2005), with audit quality measured using performance－adjusted discretionary accruals. The variable of interest is the audit time spent by auditors’ specialists. One－way clustering is employed to conservatively estimate the significance of the regression coefficients. [Findings] The findings are as follows: First, a significant positive relationship is observed between time spent by auditors’ specialists and audit quality. Second, this positive relationship is specifically evident in the sample group of firms that engaged Big 4 audit firms. Third, a positive relationship between auditors’ specialists time and audit quality is only observed when there is an increase in time spent by auditors’ specialists compared to the previous year. [Implications] By highlighting the importance of auditors’ specialists in an era where most accounting information is computerized and the significance of fair－value valuation and IT audit has escalated, this study is timely. Moreover, the findings are anticipated to aid in the development of standard guidelines for auditors’ specialists involvement by regulatory bodies.