과거기간 법인세에 대한 조정이 당기 감사시간에 미치는 영향

초록

[Purpose] The purpose of this paper is to empirically examine how an external auditor changes the level of audit hours in response to the client’s adjustments of income taxes for prior periods. [Methodology] This paper constructed the regression model with the audit hour as dependent variable and the adjustment for prior－period income taxes as the independent variable of interest. The dependent variable ―audit hour―is regressed on the variable of interest―the adjustment for prior－period income taxes. Testing hypothesis is conducted by examining the sign and significance of the estimated coefficient on the adjustments for prior－period income taxes. [Findings] It is found that the level of current adjustments for prior－period income taxes significantly positively influences the current audit hours. The positive relation between the audit hours and the level of adjustments is found to be significant in both under－ and over－reporting groups. It is also found that the frequency of adjustments for prior－period income taxes significantly positively influences audit hours. The positive relation between the audit hours and the frequency of adjustments is found to be only significant in the over－reporting group. [Implications] Thus far, the discussion about the impact of tax risk on the risk of material misstatement has primarily focused on forward－looking measures such as tax volatility, tax avoidance, and tax aggressiveness. The adjustments for prior－period income taxes ―an ex－post measure of tax risk ―signal that there could be the pre－audit risk of material misstatements in the financial statements. This paper extends the existing discussion on tax－related audit risk measures by suggesting an additional tax－related audit risk measure for use in the risk assessment procedure.

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