보수적 외부감사로 인한 회계처리이슈 고찰 : 대우건설 J프로젝트를 중심으로

Abstract

In November 2016, Anjin Accounting Corporation, an external auditor of Daewoo E&C, disclaimed its opinion on the third quarter of 2016's financial report due to the lack of sufficient and appropriate evidence to judge the appropriateness of major accounts such as construction revenue etc. Especially, the increase in planned costs due to construction delays related to overseas construction sites, and the claims should be included in the construction revenues became an issue. In case of J project in Saudi Arabia, the construction is delayed by 2 years compared to the original planned period, and the cost of the project is increased, and the claim is also expected. In this regard, the question of whether the cost recovery method should be applied instead of the progress of the construction revenues in case the scheduled construction cost increase is expected, whether to recognize the expected construction loss immediately, and lastly whether claim can be included in the construction revenues due to the cause of the contractor can be controversial issues. The disclaim of the external auditor's opinion could lead to the cancellation of the listing, Daewoo E&C was forced to accept the requirements of the external auditor at the substantive audit procedures. As a result, Daewoo E&C recognizes large-scale operating losses as it does not include any expected increase in revenues, such as claim, while maximizing projected cost increases at overseas projects. In this case, we will examine how the conservative audit procedure of external auditors affects the accounting issues related to the recognition of the construction revenues and construction costs at overseas construction sites in the extension of the measures to enhance transparency in order-made production industry accounting.