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Korean Academic Society of Business Administration
[ Article ]
korean management review - Vol. 52, No. 1, pp.93-110
ISSN: 1226-1874 (Print)
Print publication date 28 Feb 2023
Received 05 Aug 2022 Accepted 02 Sep 2022
DOI: https://doi.org/10.17287/kmr.2023.52.1.93

사립대학 회계감리에 따른 감사보수 및 감사시간의 관계

Kyung-Min Kim ; Jeong-Un Choi
(First Author) Korea Advancing Schools Foundation kmkim@kasfo.or.kr
(Corresponding Author) Daegu University Jaychoi@daegu.ac.kr
The Relationship between Audit Review of Private University and Audit Fee and Audit Hour


Copyright 2011 THE KOREAN ACADEMIC SOCIETY OF BUSINESS ADMINISTRATION
This is an open access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

This study is to investigate audit fee and hour of private universities in order to measure the effectiveness of audit review.

After audit review, there is a possibility that the auditors who audited the private universities and universities will be disadvantaged, which will put pressure on the auditing work. Therefore, audit review is highly likely to change the behavior of private universities and auditors. In this study, we examine ① audit fee and hour of audit reviewed universities(AR), ② audit fee and hour of AR after review, ③ the difference of audit fee and hour between AR and non-AR.

As a result, AR target year's audit fee and hour is lower than non-AR, significantly. And AR's audit fee after review is significant higher, but not significant relative to non-AR. Additionally, AR's audit hour after review is significant lower than non-AR. This study has the contribution in that it investigated AR's audit fee and hour about the effectiveness of audit review in private universities. In addition, this study suggests the Standard audit hour policy for effectiveness of the private university audit review, that is, increase the accounting transparency of private universities and improve audit quality.

Keywords:

Private university, Audit review, Audit quality, Audit fee, Audit hour, Standard audit hour policy

Acknowledgments

The author Jeong-Un Choi was supported by Daegu University Research Fund in 2022.

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∙ The author Kyung-Min Kim is currently serving as an expert member of the Korea Advancing Schools Foundation. His main research areas are accounting for non-profit organizations, private universities, audit quality, and education costs.

∙ The author Jeong-Un Choi is an associate professor at College of Business Daegu University. His research focuses on the accounting quality and corporate governance.