Accounting Association Opens Accounting Transparency Support Center... Support for SMEs and Accounting Firms

[Asia Economy Reporter Park Jihwan] The Korean Institute of Certified Public Accountants announced on the 20th that it officially began operating the 'Accounting Transparency Support Center' on the 17th in the main conference room on the 2nd floor of its headquarters to enhance corporate accounting transparency and support quality management of accounting firms.

The Accounting Transparency Support Center is a dedicated support organization newly established by the Institute to provide practical assistance to small and medium-sized enterprises (SMEs) and small and medium accounting firms striving to adapt to changes in the audit environment following the enforcement of the new External Audit Act.

The Center will assist in building and operating quality management systems for small and medium accounting firms conducting external audits of SMEs, developing quality management standard regulations and manuals, and managing quality control offices. It will also engage in support activities to strengthen the accounting capabilities of SMEs.

The Center has an operating committee composed of representatives from the Big Four accounting firms?Samil, Samjong, Anjin, and Hanyoung?as well as mid-sized and small accounting firms, which will make key decisions. The committee chairperson is Cho Namseok, CEO of Shinseong Accounting Firm. Committee members include Kim Byungik, CEO of Woori Accounting Firm; Yoon Kyungsik, Chair of the Korean Institute of Certified Public Accountants' Inspection and Investigation Committee; and Lee Youngseok, CEO of With Accounting Firm.

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