감사보고 지연과 이사회 특성이 미래 이익조정에 미치는 영향

[Purpose] This study aims to analyze the relationship between abnormal audit reporting delays and future earnings management, and then analyze how this relationship varies depending on board characteristics. This analysis will be confirmed how audit reporting delays affect the reliability of future accounting information and the effect of the interaction between auditors and the board of directors on management monitoring activities. [Methodology] This study analyzed the effect of abnormal audit reporting delays and board characteristics on earnings management for companies listed on the stock market from 2012 to 2020 using multiple regression models. [Findings] There was a significant negative relationship between abnormal audit reporting delays and future earnings management. The result shows that the same auditor appears to suppress future managers’ opportunistic behavior because abnormal audit reporting delays are a process that reflects the auditor’s demands. Additionally, this relationship was pronounced for companies with relatively small assets, a board of directors with accounting and financial expertise, and a large board size and number of meetings. Therefore, external auditors and board characteristics interact in management monitoring activities. [Policy Implications] This study suggests the creation of incentives to increase accounting and financial expertise for board effectiveness. It also suggests that there is a need to disclose the cause of abnormal audit report delays to help stakeholders understand.