Korea Accounting Standards Board Hosts Webinar to Celebrate 21st Anniversary of Establishment

[Asia Economy Reporter Park Jihwan] The Korea Accounting Standards Board announced on the 26th that it held a webinar commemorating its 21st anniversary.

At the seminar, Choi Junwoo, Standing Commissioner of the Securities and Futures Commission, and Baek Taeyoung, President of the Korean Accounting Association, attended and gave congratulatory remarks.

The seminar featured presentations on separate financial statements by Professor Ryu Chungryeol of KAIST and Professor Shim Junyong of Myongji University.

Although separate financial statements have yielded the main financial statement position to consolidated financial statements, they still play an important role. The seminar examined potential issues that may arise when preparing separate financial statements and explored improvement measures.

Following this, under the chairmanship of Professor Jeong Seokwoo of Korea University, designated discussions were held by Lee Hyungkwan, Team Leader at NICE Information Service, Professor Song Minseop of Sogang University, and Kim Donggil, Managing Director at Han Young Accounting Corporation.

In addition, regarding the ongoing controversy over the determination of consolidation scope, Professor Yoon Seongsu of Korea University and Professor Doo Seoyoung of Gangnam University introduced their research findings. Subsequently, under the chairmanship of Professor Jeong Seokwoo of Korea University, Professor Hwang Munho of Kyung Hee University and Hyun Seungim, Managing Director at Samjong Accounting Corporation, shared their opinions.

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