內部控制制度缺失與機構投資人對關鍵查核事項揭露之影響

歷年來國內外因內部控制制度缺失所發生公司財務報導重大不實表達事件層出不窮。我國自2016年度起適用「關鍵查核事項」之揭露，以及發布「機構投資人盡職治理守則」，期望健全資本市場，為受益人之權益把關。本研究以2016年至2020年台灣上市櫃公司為樣本，探討內部控制制度缺失與機構投資人持股對關鍵查核事項揭露之影響。本研究發現(1)公司存有內部控制制度缺失時，會計師所面臨之查核風險較高，會揭露較多之關鍵查核事項。(2)公司在機構投資人監督下，會計師所面臨之查核風險較低，會減少關鍵查核事項揭露。(3)在機構投資人外部監督力量下，公司發生內部控制制度缺失時，會計師會揭露較多之關鍵查核事項，使利害關係人瞭解公司風險之所在。雖然在機構投資人及會計師之外部監督力量下，利害關係人相對較能避免因公司發生內部控制制度缺失，導致財務報導重大不實表達風險所帶來之損害；公司管理階層及治理單位亦能針對關鍵查核事項揭露之高風險項目進行改善，但公司實際落實改善政策，以彌補內部控制制度缺失，才是有效防止風險發生之方法。

關鍵字

關鍵查核事項；機構投資人；內部控制缺失

並列摘要

Numerous corporate fraud incidents have occurred domestically and internationally over the years as a result of a lack of internal control systems. Taiwan has been disclosing "Key Audit Matters" and issuing "Stewardship Principles for Institutional Investors" since 2016, with the goal of improving the capital market and safeguarding beneficiaries' rights and interests. This research has examined the impact of a lack of internal control systems and institutional investor shareholdings on the disclosure of key audit matters for Taiwan-listed companies from 2016 to 2020. This research has discovered that: (1) The absence of an internal control system has a significant effect on the disclosure of key audit matters; (2) Institutional investors will have a detrimental effect on key audit matters being disclosed; (3) Institutional investors will create a significant influence on the lack of internal control systems and the failure to disclose significant audit matters. That is, when a company's internal control system is found to be deficient, the accountant will disclose additional key audit matters to ensure that stakeholders understand the company's risks.