공동주택 외부감사가 관리비에 미치는 영향에 관한 연구

Abstract

From 1984 to 1998 Korean law required that big apartments' financial reports should be audited by CPA, but since 1999 such legal duty has released by law revision. After introduction of the autonomous external audit system, the number of apartments that have their financial reports to be inspected on a regular basis by external auditors is dramatically reduced. As a result, questions about the reliability of accounting of apartments have raised frequently. In recent, conflicts between residents and residents' committee over the administration costs have significantly increased. We believe that external audit increases the management efficiency of apartments and therefore decreases the administration costs. We empirically examine the relations between the number of external audit conducted and administrative costs of apartments. After identifying the number of external audit conducted during the period of 2007～2009 for 126 apartment complexes, we collect the required data on the apartments for empirical tests from the 'Korean Housing Management Information System(www. khmais.net)'. In the empirical tests, we conduct one-way ANOVA and multiple regressions. In the regression tests, we control various variables that could affect administration costs of apartments. Those variables include efficiency measured by data envelopment analysis(DEA), type of heating system, type of general management, type of guarding management, type of cleaning management and age of apartment. The results of empirical tests show that after controlling other factors that could affect administration costs, the number of external audit conducted significantly affects administration costs of apartments. In the sensitivity analysis that includes size and location of apartments additionally, the results maintain robustness. In addition, we find that general administrative expenses are most significantly affected by the number of external audit among the six components of administration costs of apartments. We believe that the results of this study could provide empirical support for proponents of reviving legal regulation of external audit for apartments.