The Korean Institute of Certified Public Accountants said on Jan. 9 that at the Confederation of Asian and Pacific Accountants (CAPA) general assembly held in Jakarta, Indonesia, on Jan. 3, International Vice President Jeon Yong-seok was elected CAPA president. The term is two years.
Jeon, the former vice president, was elected CAPA vice president in Nov. 2023 and has served for two years.
The Confederation of Asian and Pacific Accountants (CAPA) is an international organization established in 1957 for the joint development of accounting professionals in Asia and the Pacific. Including Korea, 29 accounting organizations from 21 countries, such as the United States, Australia, Japan, China, and India, are participating.
Choi Un-yeol, president of The Korean Institute of Certified Public Accountants, said, "Following Seo Tae-sik, honorary chairman of Samil Accounting Corporation, in 1989 and Joo In-gi, former president of the International Federation of Accountants (IFAC), in 2009, I feel pride and joy that a Korean has once again been elected CAPA president," and added, "We expect Korea to play a central role in the development of the accounting industry in the Asia-Pacific region."
International Vice President Jeon Yong-seok said, "It is an honor and a heavy responsibility for a Korean to take the CAPA presidency again after 16 years," and added, "I will do my best to ensure that Korea plays a leading role in the development of the accounting industry in the Asia-Pacific region."
International Vice President Jeon Yong-seok is an expert who has built a career for nearly 30 years in various fields including audit, management consulting, and establishing internal control over financial reporting at Deloitte Touche Tohmatsu Limited (DTTL) Anjin LLC. After serving as international director at The Korean Institute of Certified Public Accountants, he has served as international vice president since this year and is a partner at Ichon LLC.
Major Korean figures currently active in international organizations related to accounting and auditing include Kim Sung-nam, Commissioner of the International Ethics Standards Board for Accountants (IESBA) (former auditor at The Korean Institute of Certified Public Accountants); Shim Jeong-eun, director of the International Federation of Accountants (IFAC) (HD Korea Shipbuilding & Offshore Engineering); Lee Su-mi, Commissioner of the IFAC International Panel on Accounting Education (IPAE) (standing commissioner at the Korea Accounting Standards Board); Yoon Jong-won, Commissioner of the IFAC Small and Medium Practices Advisory Group (SMPAG) (Daejoo LLC); and Shin Dong-myeong, Commissioner of the CAPA Accounting, Reporting and Assurance Coordination Committee (ARACC).