Samjong KPMG Appointed as Advisory Professors for the 6th Audit Committee Support Center

[Asia Economy Reporter Minji Lee] On the 14th, Samjong KPMG announced on the 15th that it held the appointment ceremony for the ‘6th Audit Committee Support Center (ACI) Advisory Professors Group’ at the Samjong KPMG headquarters in Yeoksam-dong.

(From the right) Kim Gyotae, Chairman of Samjong KPMG, Lee Manwoo, Professor at Korea University, Jeon Youngsoon, Professor at Chung-Ang University, and Song Jaeyong, Professor at Seoul National University, are posing for a commemorative photo. / Photo by Samjong KPMG

The 6th Advisory Professors Group newly appointed includes Professor Manwoo Lee (Korea University Business School), Professor Jaeyong Song (Seoul National University Business School), and Professor Youngsoon Jeon (Chung-Ang University Business School).

Professor Manwoo Lee is an accounting expert who served as the 26th President of the Korean Accounting Association from 2007 to 2008 and has acted as an audit committee member at leading companies such as GS Home Shopping, Hyundai Heavy Industries, and Shinhan Financial Group.

Professor Jaeyong Song is a management strategy expert who served as the President of the Korean Strategic Management Society and was elected this year as the Chair of the International Management Division of the American Management Association. He currently serves as an audit committee member at SK Discovery and Hansol Paper.

Professor Youngsoon Jeon is an accounting expert who served as the Chair of the Capital Markets Division of the Financial Supervisory Advisory Committee and currently serves as an outside director at POSCO Chemical and Chair of the Audit Committee at Hana Financial Investment.

The Advisory Professors Group will provide consultation on all activities of the Samjong KPMG Audit Committee Support Center (ACI) for a one-year term until August next year. They will contribute to and review ACI publications such as the quarterly ‘Audit Committee Journal,’ provide advice related to audit committees in their areas of expertise, and explore effective operation directions for audit committees through regular meetings.

Professor Manwoo Lee, Advisory Professor of Samjong KPMG ACI, stated, “Recently, the role of audit committees in enhancing corporate accounting transparency has been emphasized, and in response to new audit environments such as the new External Audit Act, audit committees are required to perform a core role of checks and balances.” He added, “As an advisory professor of Samjong KPMG ACI, I will provide the best advice to enhance accounting transparency and advance corporate governance in our companies.”

Meanwhile, Samjong KPMG established the Audit Committee Support Center in 2015, the first in the industry, to strengthen accounting transparency and support improvements in corporate governance. In the same year, it published the ‘Audit Committee Handbook,’ the first practical guide for audit committees in Korea, and in November 2018, released a revised edition reflecting the new External Audit Act and audit committee best practices. Samjong KPMG continues to carry out various activities to elevate the status of audit committees and audits in Korea.

This content was produced with the assistance of AI translation services.