내부회계관리제도 감사는 조세회피를 억제할 수 있는가?

초록

This study examines whether the implementation of external audits for internal accounting control systems (IACS), progressively mandated by regulatory authorities based on firm size in 2019, 2020, and 2022, is effective in reducing tax avoidance in addition to improving audit quality. The study uses four proxies for tax avoidance：ETR metrics (cash effective tax rate, GAAP effective tax rate) and BTD metrics (discretionary BTD, total BTD). Analyzing data from publicly listed firms between 2017 and 2023, the key findings are as follows. First, tax avoidance levels significantly decreased after the adoption of IACS audits compared to the pre-adoption period. However, this effect was primarily observed in the BTD metrics. Second, when considering the timing of adoption, the results indicate a reduction in tax avoidance primarily among medium-large firms (assets between KRW 500 billion and KRW 2 trillion) and medium-sized firms (assets between KRW 100 billion and KRW 500 billion) following the audit adoption. In contrast, large firms (assets exceeding KRW 2 trillion) exhibited an increase in tax avoidance. This suggests that the impact of transitioning from review to audit for IACS varies by firm size. Third, this study examined whether the relationship between IACS audits and tax avoidance is strengthened by increased audit hours. The findings reveal that audit hours do not serve as a significant moderating factor, indicating that the introduction of IACS audits, rather than additional audit effort, is the critical driver in reducing tax avoidance. These findings demonstrate that the implementation of IACS audits influences tax avoidance and that the effect differs based on the timing of adoption and firm size. This study highlights that IACS audits affect not only audit quality but also tax avoidance. Moreover, the effectiveness of IACS audits in reducing tax avoidance varies according to firm size. These results contribute to the existing literature on IACS audits and their broader implications.

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