The objective of this study was to investigate the association between corporate social responsibility (CSR) and earnings transparency of Korean companies. Transparency is one of key principles of CSR activities. We will focus on accounting transparency as accounting provides fundamental financial information about a company.Our results showed that companies with superior CSR activities had higher earnings transparency. This suggests that the more a company performs CSR, the more it gets trust from market participants on earnings information. We tested whether continuance of CSR commitments could affect the level of transparency. Our results revealed found that a company with a longer period of CSR activities had higher earnings transparency. This implies that CSR activities on ongoing-basis encourage a company to disclose its information to outside stockholders in an open way. K E Y W O R D S corporate social responsibility, earnings transparency, KEJI index

We investigate the impact of IFRS adoption on audit fee components, namely audit hours and unit audit price. We find that IFRS adoption increases audit hours but decreases unit audit price, which indicates audit firms cannot charge extra audit fees for their additional effort in a competitive audit market. Further, the IFRS-related audit fee increase depends on the client's bargaining power and audit risk. We thus suggest that the economic burden caused by IFRS adoption cannot be generalised for audit clients, because a competitive audit market imposes an informal limit on audit pricing.

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