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개정 국제감사보고기준의국내 도입 및 시행을 위한 연구

Recommendations for Implementation of the New and Revised International Auditor’s Reporting Standards in Korea

심영|노준화|이재은
한국공인회계사회 (THE KOREAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS)|2015.12|회계ㆍ세무와 감사 연구 (Study on Accounting, Taxation & Auditing)|제57권 제4호|pp. 111-148|DOI 10.22781/kicpa.2015.57.4.111

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계속기업기타정보Other information국제감사보고기준주요감사사항파트너이름the International Auditor’s Reporting StandardsKey audit matter(KAM)Going concernAudit partner name.
주제분류회계학

초록

국제감사･인증기준위원회(IAASB)는 2015년 3월에 ‘감사보고체계 개선과 관련된 개정 국제감사기준(“개정국제감사보고기준” 또는 “개정감사보고기준”)’을 발표하고, 2016 회계연도 감사부터 적용하도록 정하였다. 여기에는 주요감사사항(Key Audit Matter), 계속기업 보고, 기타정보 보고, 업무수행이사 이름기재 등 획기적 변경내용을 포함한다. 개정감사보고기준은 감사보고 유용성을 높이기 위한 IAASB 프로젝트의 결과물이다. 이는 다양한 이해관계자의 수요를 반영하기 위한 것이며, 회계감사에 대한 기대차이를 해소하기 위한 시도이다. 이러한 긍정적 측면에 불구하고 우리 제도적, 법률적 환경이 기준개정을 주도한 EU 국가들과 다를 수 있다는 점에서, 개정감사보고기준의 국내 도입을 위해서는 신중한 사전검토가 필요하다. 본 연구는 이러한 관점에서 개정 국제감사보고기준의 국내 시행에 고려할 사항을 조사한다. 구체적으로, 개정감사보고기준의 시행항목과 관련된 우리나라 제도적, 법률적 준비사항과 적절한 국내 도입 시기에 대하여 검토하였다. 연구결과는 다음과 같이 요약된다. 첫째, 개정감사보고기준은 이해관계자들과 기대차이를 해소하기 위한 것이고, 개정감사보고기준의 시행이 2016년부터라는 점에서 국내 시행의 당위성을 보여준다. 다만, 어려운 사전준비사항을 고려할 때 국내 시행은 최소한 1∼2년 이상의 시행유예가 필요하다. 둘째, 개정감사보고기준의 도입 이전에 감사인 판단과 책임범위의 확대에 따른 국내 법규상 감사인의 법적 책임을 합리적으로 설정하거나, 감사인의 합리적 방어수단을 허용하는 제도적 보완이 필요하다. 셋째, 국내외적으로 시행경험이 거의 없다는 점을 고려할 때, 적용방법을 명확하게 할 구체적 실무지침이 마련되어야 한다. 넷째, 제도정비와 함께 감사실무 운영상 개선이 필요하다. 예를 들어, 경영자책임 강화 없는 기타정보 관련 감사인책임의 강화는 감사인에게 “사업보고서 검증책임 대행 역할”을 수행하게 만들 독립성훼손 위험이 있다. 마지막으로, 업무수행이사(파트너) 이름공개 규정 등 일부 개정기준서 항목에 대해서는 감독규정이나 증권시장 운영절차의 사전정비가 이루어질 때까지 시행유예를 고려할 필요가 있다. 본 연구의 공헌점은 개정 국제감사보고기준의 국내 도입시 사전준비가 필요한 사항을 종합적으로 점검한 것이다.

Abstract

International Auditing and Assurance Standards Board (IAASB) developed the new and revised Auditor’s Reporting Standards in March 2015 (IAASB 2014; 2015a; 2015c). This revised standards are the results of the IAASB’s Auditor Reporting project continued over years, of which objectives were to (i) enhance the communicative value and relevance of the auditor’s report through revisions to the International Standards on Auditing (ISAs) that address its structure and content, and (ii) modify the reporting ISAs to accommodate evolving national financial reporting regimes. Major revisions and new reporting standards introduced in the revised auditor’s reporting standards cover, among others, reporting of (i) key audit matters (KAM), (ii) going concern reports, (iii) other information reporting, (iv) audit partner name disclosure requirements, and are effective from the audits for the periods ending on or after December 15, 2016. IAASB(2015a) indicates that the primary beneficiaries of the IAASB’s auditor reporting project are investors, analysts and other users. Also there would be significant practice changes, with collaboration needed by all participants in the financial reporting supply chain to ensure the objectives of the auditor reporting project be realized. In spite of the positive aspects of the project, we need to evaluate possible effects of the revision to be implemented in Korea since Korean environments of audit practice might be different from those of the countries (mainly, EU countries such as the United Kingdom, France, etc.) leading the revisions. Our study is to investigate such areas to be considered in the nation’s implementation, and to find the related recommendations. For this purpose, we refer to the IAASB’s Basis for Conclusion documents (IAASB 2015b, 2015n) and other related academic researches. We provide a brief recap and summarize the our key findings and recommendations as follows. The IAASB’s new and revised Auditor’s Reporting standards represents and supports an important change in audit practice, responding to the audit report user’s needs, and the revised standards are effective in 2016. Accordingly, local implementation of the standards is inevitable in Korea, as well. However, also, we have to consider implementation process of the foreign countries other than the United Kingdom, France, etc. which have already introduced the revised reporting models into their national audit standards. We found that most of other European countries (e.g. Switzerland, Germany etc.), and the United States, Canada, Australia, Japan and many others are not implementing the revised standards right away, which is to consider and prepare for any potential consequences in the localization. Moreover, Canada announced a more detailed schedules indicating the deferred effective date and staged implementation (C-AAB 2015). Similarly, we recommend to defer the effective date at least one or two years, and to additionally consider a staged implementation for other information reporting and audit partner name disclosure requirements. Considering the complexity associated with the standard revisions and practice changes, we provide insights and recommendations to be considered in the reporting standard localization in Korea. First, many areas of the revisions (e.g. key audit matters [KAM]) increase uncertainty of auditor’s legal liability since they extend the auditor’s judgements and involvements in the client’s financial reporting and annual report processes. We recommend to find regulatory changes to support the auditor’s reasonable defensive measures to avoid auditor’s one-sided increase of legal liability without corresponding increase of management responsibilities. Second, there are scarce experiences in the audit practices to apply the new reporting standards; accordingly, a detailed and concrete application guidance needs to be developed before the implementation. Such guidance should be a good reference to evaluation of the auditor’ legal liabilities, too. Third, practical changes, together with the regulatory developments discussed above, need to be accompanied. e.g. practice of auditor’s communications with the managements and those charged with governance (TCWG) needs to be reinforced. Also management’s responsibility for annual reports and the reporting quality need to be improved. Otherwise, enhanced auditor’s involvements in the other information or expanded auditor responsibility (for key audit matters or going concern judgment) are likely to increase the risk of over-auditing or impairment of auditor independences. Finally, implementation of certain revised reporting standards needs to be postponed until the related practice or regulatory rules are changed. e.g. audit partner disclosure requirements need to be suspended until cessation of the de-listing rules triggered by non-unqualified audit opinions. Auditor’s reporting requirements for other information also be suspended until annual report quality is stabilized in the capital market, and management responsibility for annual report is restored. It is our study’s contribution that we review points to be considered and offer recommendations for future local implementation of the revised and new Auditor’s Reporting Standards in Korea.

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