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首页> 外文期刊>The journal of applied business research >Determinants Of Enforcement Action By The Financial Supervisory Service Of Korea From The Perspective Of Audit Firms
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Determinants Of Enforcement Action By The Financial Supervisory Service Of Korea From The Perspective Of Audit Firms

机译：从审计事务所的角度看韩国金融监督部门执法行动的决定因素

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摘要

In this study, we examine the determinants of enforcement action by the Financial Supervisory Service of Korea from the perspective of audit firms. Enforcement action is an indication of audit failure. Both client-and audit firm-specific factors are involved in its occurrence. Most published studies of enforcement after audit failure focus on client characteristics because details about audit firms from financial statements and information about organizational structure are not publicly available. However, examining the issues surrounding enforcement from the perspective of audit firms may also be valuable in elucidating the potential determinants of audit failure resulting in enforcement action. Utilizing publicly available data from audit firms in South Korea, we identify several audit firm characteristics as determinants of enforcement action. The results of our empirical analysis reveal that the likelihood of audit failure is positively associated with the ratio of accounts receivable to total assets, the ratio of audit fees to total revenue, the ratio of partners to the total number of CPAs, CEO ownership, and age of audit firms. In addition, the likelihood of audit failure is negatively associated with ownership concentration and profitability. These associations are more pronounced in non-affiliated audit firms than affiliated audit firms. Several useful implications for regulators are described for improving audit quality by means of enforcement action.
机译：在本研究中，我们从审计事务所的角度研究了韩国金融监督服务局执法行动的决定因素。执法行动表明审计失败。客户和审计公司特定的因素都与它的发生有关。审计失败后执行的大多数公开研究都集中于客户特征，因为财务报表中有关审计公司的详细信息以及组织结构的信息尚未公开。但是，从审计公司的角度检查与执法有关的问题对于阐明导致执法行动的审计失败的潜在决定因素也可能是有价值的。利用韩国审计公司的公开数据，我们确定了审计公司的几种特征，可以作为执法行动的决定因素。我们的经验分析结果表明，审计失败的可能性与应收账款与总资产的比率，审计费用与总收入的比率，合伙人与注册会计师总数，CEO所有权以及审计事务所的年龄。此外，审计失败的可能性与所有权集中度和获利能力负相关。这些关联在非附属审计事务所中比在附属审计事务所中更为明显。描述了对监管机构的一些有用暗示，它们可以通过执法行动来提高审计质量。

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