자산손상과 감사보수 및 감사시간: 자산손상 관련 핵심감사사항을 중심으로

This study examines how auditors respond to audit fees, audit hours, and hourly audit fees when selecting impairment as a Key Audit Matter (KAM). Specifically, auditors who identify impairment as a KAM allocate additional audit effort, which leads to increased audit hours and higher audit fees. We investigate whether audit fees, audit hours, and hourly audit fees differ depending on whether impairment-related KAMs are disclosed. It is hypothesized that auditors will allocate more audit effort and increase hourly fees when they have doubts about impairment and decide to disclose impairment-related KAMs. The analysis is based on data from companies listed on the KOSPI and KOSDAQ markets from 2016 to 2021. The results indicate that auditors tend to increase audit fees, audit hours, and hourly fees when recognizing the risk associated with impairment, as a strategy to mitigate audit risk. Additionally, hourly fees are elevated to address potential litigation risk. These are most prominent in the KOSDAQ market, which suggests that companies listed on the KOSDAQ are more likely to experience accounting errors. Consequently, the introduction of the KAM appears to have enhanced auditors’ incentives to rectify financial statement inaccuracies in KOSDAQ-listed companies. Factors influencing the selection of impairment-related KAMs include a negative relationship between the frequency of such disclosures and the presence of on-site personnel, which facilitates communication between the auditor and the company, thereby reducing impairment-related risks. Furthermore, uncertainties surrounding a company’s management stability are associated with increased audit risks related to impairment. During the COVID-19 pandemic, there was a higher likelihood of selecting impairment-related KAMs. Lastly, large companies with complex asset structures are likely to report a higher frequency of impairment-related KAMs.