The Young Accountants Association to Initiate Administrative Appeal Regarding Procedures for Increasing Accountants

[Asia Economy Reporter Park Ji-hwan] The Young Certified Public Accountants Association announced on the 10th that it will file an administrative appeal regarding the Financial Supervisory Service's decision process to increase the number of certified public accountant (CPA) recruits.

Hwang Byung-chan, president of the Young Certified Public Accountants Association, stated, "The problem lies in the fact that the increase in the number of CPA recruits was not decided based on proper grounds and a fair procedure," adding, "The number of members in the deliberation committee and the decision-making process have not been disclosed, resulting in a closed-door, desk-based administration. Therefore, we are preparing for an administrative appeal."

He also added, "The Financial Services Commission must disclose the research report on the number of CPA recruits commissioned to the Korea Development Institute (KDI)."

Last November, the Financial Services Commission resolved to set the minimum number of CPA recruits for 2020 at 1,100, which is 100 more than the 1,000 recruits in the previous year.

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