Business, Management and Accounting
5 years ago

Mandatory Auditor Designation Boosts Audit Quality, Strengthening Corporate Accountability

Journal of Taxation and Accounting
A Study on the Impact of the Rule Change in Mandatory Auditor Designation
Ki‐Tae Park, Kyu-An Jeon

Paper Summary

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The study examined the impact of a rule change in mandatory auditor designation in South Korea. It found that final audits improve audit quality, while designated audits do not. Longer audit periods lead to higher quality, especially in voluntary audits. Initial audits without designation result in significantly lower quality. New designated audits show higher quality compared to old ones, but overall, designated audits do not affect quality. This research provides valuable insights for professionals and policymakers interested in audit regulations.