Search results

The purpose of this paper is to develop lightweight actuators in order to replace conventional hydraulic/pneumatic actuators and to apply the actuation system to a small flying vehicle.

A new type of control surface using a piezo‐composite actuator for a small flying vehicle has been designed and manufactured. The piezo‐composite actuator is composed of a piezoelectric ceramic layer, a carbon/epoxy layer and glass/epoxy layers. Through this, the miniaturization and weight reduction of the actuation systems for flying vehicle can be achieved. A simple model of the control surface has been manufactured and evaluated through experiments.

The performance test results showed that the developed actuator can produce stable angle of attack independent of the applied loading. A radio controller for the actuator was developed to control the motions wirelessly. It was found that the piezo‐composite actuator and its integrated controller system have a possibility to be used not only as a small flying vehicle but also as a control surface actuator of a small unmanned flying robot through the miniaturization of power supply and control system.

The paper describes the procedures of designing and manufacturing smart structure application of the piezo‐composite actuator with performance evaluation and comparison method. It is expected that piezo‐composite actuator can be used as a small flying vehicle control surface actuator through the miniaturization of power supply and control system with the use of the integrated radio controller MIPAD.

This paper aims to examine how the relationship between abnormal audit fees and audit quality changed after adoption of the International Financial Reporting Standards (IFRS) in Korea.

Using empirical data collected over the period from 2008 to 2013, this study analyzes the association between abnormally high/low audit fee and audit quality. This study uses linear regression to test the hypothetical relation using discretionary accrual as a proxy for audit quality.

This study finds that there exists no significant relationship between abnormally high audit fees and audit quality measured by the magnitude of discretionary accruals in the pre-IFRS adoption period. However, the relationship between abnormally high audit fees and the magnitude of discretionary accruals turns to be positive in the post-IFRS adoption period. These finding suggests that the IFRS enables some clients to engage more discretion in the choice of discretionary accruals and auditors charge higher audit fees in return for allowing the discretion for such clients.

This study provides insight to regulators of the need to review carefully the financial statements of firms with abnormally high audit fees, and to investors to be more cautious when using financial information about these firms.

To the best of authors’ knowledge, this is the first study to assess IFRS impact on audit fee-quality relation. Also, unique Korean audit market with intensifying competition and discounting audit fee provides interesting setting to review the impact of abnormal audit fee on audit quality.