회계법인 내 감사파트너의 매출기여도와 회계상 유효법인세율 간의 관계

[Purpose] Recent studies have examined the impact of individual audit partner characteristics on audit performance. In this context, this study focuses on the importance of audit partners’ revenue contribution within accounting firms, given that high revenue－contributing partners may have priority in resource allocation, expert utilization, and audit team composition. Tax expense, which involves accounting estimates and judgments, is an area where managerial discretion can easily intervene, making it suitable for examining the influence of individual audit partners. This study analyzes the effect of audit partners’ revenue contribution on the GAAP effective tax rates (GAAP ETR) of audited firms. [Methodology] This study uses data on individual audit partners and audit fees for all firms subject to external audits from 2010 to 2018. It measures audit partners’ revenue contribution by decile rankings of total audit fees within accounting firms. The dependent variable, GAAP ETR－the proportion of income tax expense to pre－tax income－is measured both in the short term and over a three－year period. [Findings] Firms assigned audit partners with higher revenue contributions exhibit significantly higher GAAP ETR at the 1% level. This finding is consistent when GAAP ETR is measured over the long term. The results suggest that high revenue－contributing audit partners, as key personnel, perform audits conservatively regarding tax expenses due to concerns about reputational loss and economic harm in the event of audit failure. [Policy Implications] This study contributes to the literature by broadening the understanding of audit quality determinants and highlighting the importance of audit partners’ relative contribution within accounting firms as a factor influencing audit performance.