Accountant Kim Seongnam Appointed as Member of the International Ethics Standards Board

[Asia Economy Reporter Minji Lee] The Korean Institute of Certified Public Accountants announced on the 13th that accountant Kim Seongnam has been appointed as a member of the International Ethics Standards Board for Accountants (IESBA), an independent standard-setting body under the International Federation of Accountants (IFAC) responsible for establishing ethical standards for certified public accountants. The term is three years with the possibility of renewal.

The International Ethics Standards Board for Accountants is one of the most important international standard-setting bodies related to accounting audits, alongside the International Auditing and Assurance Standards Board. This is the first case for a Korean.

Accountant Kim Seong-nam

Kim Youngsik, President of the Korean Institute of Certified Public Accountants, said, "This is joyful news that a Korean has advanced into a key international standard-setting committee," adding, "Building on this, we will pay attention to the issues faced by Asian countries in the process of international standard-setting and represent their positions so that South Korea can lead international issues in the accounting and auditing fields."

Currently active figures on the international stage related to accounting and auditing include Ju Inki, President of the International Federation of Accountants (former Yonsei University professor), Ahn Youngkyun, IFAC Board member (full-time vice president of the Korean Institute of Certified Public Accountants), and Choi Dal, a member of the IFAC Accounting Education Panel (accountant at Samil PwC). Jeon Yongsuk (head of the audit division at Anjin Accounting Corporation) is also actively serving as a director of the Asian-Pacific Federation of Accountants.

Accountant Kim Seongnam said, "I believe I was appointed as a member thanks to South Korea’s national power and accounting capabilities," and added, "I am grateful to those who helped during the appointment process, and I will strive to enhance the status of our accounting industry on the international stage based on the knowledge and experience I have accumulated."

Accountant Kim Seongnam is a top expert with over 30 years of experience in accounting audit and risk management while working at Han Young Accounting Corporation. He has served as a member of the Korean Accounting Standards Board and as an international director of the Korean Institute of Certified Public Accountants. In recognition of his contributions to the introduction and establishment of international auditing systems such as the International Financial Reporting Standards (IFRS) in 2013, he received the Audit Grand Prize at the 17th Auditors’ Conference and the 14th Auditors’ Awards Ceremony. In June 2019, he was elected auditor at the 65th regular general meeting of the Korean Institute of Certified Public Accountants and currently serves as chairman of the International Cooperation Committee for the Jeju Group, which consists of the Japanese Institute of Certified Public Accountants, the Singapore Institute of Certified Public Accountants, and IFAC, aimed at improving accounting capabilities and systems in developing countries.

IFAC is an international organization representing 3 million accountants worldwide, with over 170 accounting professional organizations from more than 130 countries as members. IFAC supports the establishment of professional standards, and the International Ethics Standards Board for Accountants is an independent standard-setting body under IFAC that establishes high-quality ethical standards for accounting professionals, including independence regulations.

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