Accounting Association Holds Forum for Transparent Management of Government Subsidies

[Asia Economy Reporter Park Jihwan] The Korean Accounting Association announced on the 22nd that it held a 'Accounting and Public Administration Academic Forum for Transparent Management of National Treasury Subsidies' jointly with the Sustainable Accounting and Finance Research Center at the Graduate School of Public Administration, Seoul National University.

The keynote presentation was delivered by Professor Jeong Dojin of the Department of Business Administration at Chung-Ang University. The session was moderated by Professor Kim Ibae (Duksung Women's University), with discussants including Kang Heejin (Certified Public Accountant), Kang Injae (Director of the Fiscal Performance Research Institute), Cho Changsang (Ministry of Strategy and Finance), and Kim Bonghwan (Seoul National University professor).

Professor Jeong analyzed the current status and issues of national treasury subsidies, overseas cases of fiscal management of national treasury subsidies, and proposed improvement measures for transparent management of national treasury subsidies in his keynote presentation.

As improvement measures, the establishment of a blockchain-based national treasury subsidy execution system and methods to strengthen the linkage between national treasury subsidies and accounting to supplement inadequate accounting disclosures were suggested.

Professor Jeong emphasized, "Along with the continuous advancement of functions to prevent embezzlement or fraudulent receipt of national treasury subsidies, policy reinforcement toward information accessibility is necessary," adding, "a sustainable and permanent management entity must also be established to promote this."

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