The Financial Supervisory Service and The Korean Institute of Certified Public Accountants will hold a briefing on accounting issues for accounting firms and audit teams.
On the 3rd, the Financial Supervisory Service said it will share accounting supervision issues and supervisory direction useful for the audit work of external auditors (accounting firms and audit teams) and provide guidance on examples of findings from reviews and inspections at the main auditorium on the 2nd floor of its Yeouido headquarters in Seoul on the 19th.
At the briefing, the following will be discussed: ▲ the status of actions and implications from this year's review and inspection results ▲ key supervisory directions ▲ key accounting issues for focused review of financial statements (investor agreements, issuance of convertible bonds, supplier financing agreements, investments in subsidiaries and associates) ▲ preparation guidelines for internal control over financial reporting anti-fraud control forms ▲ major deficiencies found in inspections of auditors of listed companies ▲ the revised auditor designation system.
There will also be time to collect in advance and answer questions and suggestions on major accounting issues such as internal control over financial reporting and the financial statement review system.
Those wishing to attend can register through the website of The Korean Institute of Certified Public Accountants. Online attendance is also available.