Financial Supervisory Service to Hold Online Briefing on Auditor Designation System on the 31st
[Asia Economy Reporter Ji-hwan Park] The Financial Supervisory Service (FSS) will hold an online briefing session regarding the auditor designation system as the submission period for basic data of December fiscal year-end companies subject to periodic designation approaches.
On the 30th, the FSS announced that it will hold the "Auditor Designation System Online Briefing" on the 31st in collaboration with the Korea Listed Companies Association, KOSDAQ Association, KONEX Association, Korea Federation of SMEs, and the Korean Institute of Certified Public Accountants. The companies subject to periodic designation for December fiscal year-end include approximately 2,250 listed companies (excluding KONEX) and about 700 large unlisted companies where ownership and management are not separated.
The briefing session was organized to support these December fiscal year-end companies in submitting the designated basic data faithfully, as the submission period from the 1st to the 14th of next month approaches. It will provide guidance on how to prepare and submit the data to facilitate smooth execution of auditor designation tasks.
In particular, from this year, the FSS explained that periodic designation notifications will be actively conducted not only for listed companies but also for large unlisted companies where ownership and management are not separated, so it is essential to prepare and submit the designated basic data thoroughly. It will also explain the review results regarding inquiries about the auditor designation system recently received from related organizations and auditors of listed companies.
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The FSS plans to post the briefing session video on the Financial Supervisory Service's accounting portal and related organizations' websites. If corporate or accounting firm personnel have questions, they can inquire through the FSS's "Accounting Portal - External Audit Q&A," and prompt responses will be provided.
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