The Korean Institute of Certified Public Accountants noted on the 7th that it held a "meeting of representatives from registered companies" at The Plaza Hotel in Jung-gu, Seoul, on the 6th.
A total of about 80 accounting professionals, including representatives from 40 registered companies and quality control directors, attended the meeting.
Chairman Choi Woon-yeol expressed gratitude in his opening remarks at the meeting, saying, "I thank all members who have done their best in the challenging internal and external conditions and economic situation," and urged, "Let us work together to solve the pressing issues and problems."
At the meeting, participants outlined key accounting policy initiatives centered on the periodic designation deferment plan announced by the financial authorities at the end of December, and introduced response measures to recent issues in the accounting industry and external agendas.
In particular, attendees expressed serious concerns over financial leakage and damage to accounting transparency in the public and non-profit sectors, including accounting audits of local government entrusted projects and verification of national treasury subsidy projects. There was also consensus on the need for more proactive responses to this issue moving forward.
Earlier, the Seoul City Council changed the name of the accounting audit for privately commissioned business entrusted organizations to "settlement of account inspection" in April 2022, stipulating that this could also be handled by tax accountants. In response, the Seoul mayor filed a lawsuit asking for the new ordinance to be withdrawn, stating, "Even if the name changes to settlement of account inspection, the nature and essence of the work pertain to tasks that can only be performed by accountants," and the Supreme Court judged in October last year that "settlement of account inspection does not correspond to accounting audits or certifications," concluding there was no issue with the current ordinance.
Additionally, over 130 young certified public accountants participated in a town hall meeting held on the 2nd for free communication about recent issues in the accounting industry. Chairman Choi noted at the town hall meeting, "In the future, we will activate opinion gathering in various ways for active communication with young members."