The Korean Institute of Certified Public Accountants noted on June 4 that it hosted the 27th Korea-Japan Annual Meeting jointly with the Japanese Institute of Certified Public Accountants (JICPA) at The Westin Chosun Seoul in Jung-gu, Seoul, on May 30.

On May 30, at The Westin Chosun Seoul during the Korea-Japan annual meeting, (from left in the front row) Chang-ho Yoon, Vice President of International Cooperation at the Korean Institute of Certified Public Accountants, Woon-yeol Choi, President of the Korean Institute of Certified Public Accountants, Tetsuya Mogi, President of the Japanese Institute of Certified Public Accountants, Seowon Jeong, Executive Vice President of the Korean Institute of Certified Public Accountants, Naruhito Minami, Vice President of the Japanese Institute of Certified Public Accountants (next President), and key figures from both accounting societies are having a commemorative photo taken. /Courtesy of Korean Institute of Certified Public Accountants

The Korea-Japan Annual Meeting is a regular exchange event between the accounting societies of the two countries that has continued since the 1990s. It is held alternately each year in Korea and Japan to share issues related to systems and practices in accounting and auditing and to seek mutual cooperation.

This year's meeting was attended by about 20 officials, including leadership from both countries, and they extensively discussed joint responses and cooperation measures for the changing accounting and auditing environment. In particular, they shared in-depth opinions on common interests of both countries, such as sustainability disclosures and certifications, and issues in accounting, auditing, and taxation related to virtual assets, while expanding mutual understanding of differences in each country's systems.

Chairman Choi Woon-yeol expressed gratitude to the visiting JICPA leadership during his welcoming speech, stating, "I appreciate the JICPA leadership for visiting despite their busy schedules," and added, "This meeting will be a meaningful venue to explore the social responsibilities facing the accounting profession and their roles in the rapidly changing domestic and international environments and to derive practical cooperation measures."

Tetsuya Mogita, chairman of the Japanese Institute of Certified Public Accountants, also remarked, "It is very meaningful that the accounting societies of both countries have continued their exchanges based on mutual trust," and added, "I hope this meeting will further strengthen the cooperation foundation between the two countries."

Chairman Tetsuya Mogita is set to retire at the regular general meeting in July. Meanwhile, Naruhito Minami, who has been nominated as the next chairman, also attended the meeting that day and expressed his commitment to ongoing communication and cooperation between the accounting societies of both countries.

The Korean Institute of Certified Public Accountants plans to continue to expand understanding of accounting and auditing systems in both countries through annual meetings with the Japanese Institute of Certified Public Accountants and to strengthen cooperation among accounting professionals in the Asia region by sharing practical experiences.

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