수주산업 회계부정 사례를 통한 외부감사인의 책임과 시사점

Abstract

[Purpose] The order－made production industry, including the construction and shipbuilding industries, recognizes revenue based on the progress rate. Because progress estimates involve complex assumptions and estimates, they have high inherent risk and high audit risk. As a result, accounting fraud often occurs in order－made industries such as construction and shipbuilding. This study analyzes the accounting fraud cases of Company A in the ordermade production industry from 2008 to 2015 to present legal responsibilities for external auditors' poor auditing and implications of the court’s ruling on Company A’s accounting fraud on external audit.
 [Methodology] We conducted a search of court rulings related to Company A’s accounting fraud lawsuit and literature published by relevant supervisory authorities.
 [Findings] First, external auditors must strive to strengthen their competence and independence. Second, the scope of responsibility of the audit team must be made clear. Third, if the audited company’s submission of audit－related data is insufficient it is necessary to increase the differential information value of the audit report by actively considering modifying the audit opinion. Fourth, active communication between the auditor and the audited company is necessary, and after communication, audit risks must be managed by documentation.
 [Implications] By analyzing cases of accounting fraud in the order－made production industry based on court rulings, this study presented how the auditor’s perspective on accounting audits differs from the court’s perspective. In addition, it is different in that it analyzes accounting fraud cases from the auditor’s responsibility perspective and suggests implications.