Korean Institute of Certified Public Accountants Rejects Request to Recommend Accounting Institution for 'Jeongui Gieok Yeondae'

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The Korean Institute of Certified Public Accountants decided on the 21st not to accept the request from Jeongui Gieok Yeondae (Jeonguiyeon) for the recommendation of an accounting firm.

A representative of the Korean Institute of Certified Public Accountants stated, "Regarding the request for the recommendation of an accounting firm made by Jeonguiyeon on the 15th, we reached an internal conclusion that we cannot recommend an accounting firm because the matter is currently under prosecution investigation or litigation." They emphasized that the related allegations are issues to be clarified through the prosecution's investigation.

Earlier, as accounting suspicions continued to arise, Jeonguiyeon requested the Institute of Certified Public Accountants on the 15th to recommend an accounting firm, stating that they would undergo verification through an accounting firm specializing in public interest corporations.

However, considering that the prosecution had begun a forced investigation, including a search and seizure of Jeonguiyeon's office, and that there is a precedent of not recommending institutions for matters under investigation, the Institute of Certified Public Accountants ultimately concluded not to accept Jeonguiyeon's request.

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