감사위원회가 수익의 품질에 미치는 영향

[Purpose]The audit committee is obligated and responsible for reviewing and evaluating the company’s overall accounting policy. However, there are conflicting views on the role and effectiveness of the audit committee in both academia and practice. This study aims to investigate whether the establishment of an audit committee improves the quality of revenue and explores the role of the audit committee from a different perspective than previous studies. [Methodology]K－IFRS 1115 is a new revenue recognition standard that aims to enhance the usefulness of revenue information by applying a uniform recognition model. However, previous studies have reported inconsistent results on the effectiveness of this standard. If the revenue recognition standard has been changed, the audit committee is responsible for ensuring the reliability of the revenue information reported based on the new standard. Therefore, this study investigates the role of the audit committee in ensuring the quality of revenue using Korean listed firm data from the year 2018 when K－IFRS 1115 was applied in Korea. [Findings]The results indicate that companies with an audit committee show lower discretionary revenues than those without an audit committee. These findings imply that the audit committee has a positive effect on improving the quality of revenues. Additionally, these results remain consistent when using other discretionary revenue proxies. Furthermore, the results using samples matched on propensity scores also confirm these findings. Moreover, the effect of the audit committee on improving the quality of revenue is particularly evident in companies that voluntarily established the audit committee.