The Korean Institute of Certified Public Accountants said on the 27th that it will hold a "meeting of compliance officers of accounting firms" on the 1st of next month for compliance officers at mid- to large-sized accounting firms.
The meeting was arranged as social concern has grown over long working hours in the accounting industry and the operation of the working-hours system. The institute plans to review the current operation of systems related to certified public accountants' working environment and discuss improvements.
Key agenda items include the status of discretionary work systems and comprehensive wage systems at accounting firms, methods of recording and managing actual working hours, and compliance with labor laws during audit work.
It also plans to review how the compliance officer system is being run. The institute will broadly hear about difficulties that arise during compliance officers' performance of their roles and institutional supplementation points, and will pursue follow-up measures such as reviewing future system improvements and making recommendations to supervisory authorities.
An official at The Korean Institute of Certified Public Accountants said, "We express our deepest condolences to the young accountant who passed away during the recent audit season," adding, "Starting with this meeting, we will take the lead in seeking effective improvement measures by listening to the diverse voices of accountants in the field."