The negative test simply means that no residue was found on the hands. This could mean that the subject was wearing gloves when he/she fired the weapon, it may mean that they've gotten their hands into something that removed the residue or it may mean that a significant amount of time has elapsed and the residue has worn off.
Tests on a dead subject can be done after a greater amount of lapsed time after the shooting event since the dead body isn't perspiring, shedding skin cells or doing activities which remove the residue.
Assuming that the corpse became a corpse during the shooting event, if there is intact skin present on the hands of the cadaver then the GunShot Residue Test can be conducted. If the subject shuffled off this mortal coil six hours or more after doing the shooting, then the test probably won't show anything.
As far as the accuracy goes, I would imagine that the test is as accurate as any other chemical test to determine the presence of barium, antimony and/or lead.
LawDog