내부회계관리제도의 검토결과가 회계정보의 가치관련성에 미치는 영향 = The Effects of the Review Reports of Internal Accounting Control Systems on the Value Relevance of Accounting Information

다국어 초록 (Multilingual Abstract)

This study verifies how the unqualified review reports of internal accounting control systems affect the value relevance of accounting information, focusing on the listed companies of KOSPI and KOSAQ from 2005 until 2007.
The results of the concrete analysis are the following.
First, as the abnormal earnings and the equity of the companies given unqualified review reports show the less value relevance than those of the companies given qualified review reports, it is indicated that the lower reliability of the financial statements of the companies given unqualified review reports also reflects the negative effects on the stock market.
Secondly, while the value relevance of the abnormal earnings is lower when listed non－small companies are given unqualified review reports, there was no difference in the case of listed small companies.
Thirdly, while the value relevance of the abnormal earnings and the equity of are lower when the companies that have the material are given unqualified review reports, there was no difference in the case of the companies for which the scope was limited.
The purpose of this study is to show that unqualified review reports may make a negative effect on the stock markets as the value relevance of the accounting information of the companies which have the unqualified review reports is less than those which have qualified review reports.
We also suggest a sound reason why the application of the management’s assessment standards should be excluded by proving that small companies show no difference in the value relevance of accounting information between qualified review reports and unqualified ones.

참고문헌 (Reference)

1 오웅락, "실무의견서 검토를 통한 비상장주식의 공정가치 평가에 관한 연구" 한국회계학회 18 (18): 197-224, 2009

2 박주철, "비적정 감사의견 공표에 따른 시장반응에 관한 연구" 대한경영학회 16 (16): 3-65, 2003

3 이명곤, "내부회계관리제도의 중요한 취약점과 기업특성" 한국회계정보학회 25 (25): 161-194, 2007

4 박진범, "내부회계관리제도의 검토결과가 가치관련성에 미치는 영향" 숭실대학교 2008

5 김광호, "내부회계관리제도의 검토결과 이익조정에 미치는 영향" 숭실대학교 2007

6 조현우, "내부회계관리제도와 회계정보의 신뢰성" 한국공인회계사회 (44) : 119-145, 2006

7 황국재, "내부회계관리제도가 외부감사에 미친 영향 - 감사보고시차를 중심으로 -" 한국회계학회 17 (17): 121-154, 2008

8 내부회계관리제도운영위원회, "내부회계관리제도 모범규준 적용해설서"

9 내부회계관리제도운영위원회, "내부회계관리제도 모범규준"

10 신현걸, "내부회계관리제도 검토보고 현황 분석" 한국회계학회 16 (16): 107-128, 2007

11 회계감사기준위원회, "내부회계관리제도 검토기준 적용지침"

12 회계감사기준위원회, "내부회계관리제도 검토기준"

13 윤태화, "감사의견 악화가 주가에 미치는 영향" 4 (4): 25-51, 2004

14 안상봉, "감사위원회 품질과 내부회계관리제도의 도입이 회계투명성에 미치는 영향" 대한경영학회 21 (21): 99-126, 2008

15 DeFranco, G, "The wealth change and redistribution effects of Sarbanes－Oxley internal control disclosures" University of Toronto 2005

16 Ge, W, "The disclosure of material weaknesses in internal control after the Sarbanes－Oxley Act" 19 (19): 137-158, 2005

17 Ohlson, J. A, "Earnings, Book Values, and Dividends in Equity Valuation" (Spring) : 661-687, 1995

18 Doyle, J, "Determinants of weaknesses in internal control over financial reporting and the implications for earnings quality" University of Utah, University of Michigan, and New York University 2005