Samil PwC Successfully Concludes Seminar on the Role of Audit Committees in 3 Years of Accounting Reform

[Asia Economy Reporter Jihwan Park] Samil PwC announced on the 15th that it successfully held an online seminar titled "Three Years of Accounting Reform, Changes and Challenges in the Role of Audit Committees" for audit committee members and auditors who play a crucial role in accounting reform.

The seminar began with a welcome speech by CEO Yoon Hoon-soo, followed by presentations on accounting reform briefing, recent trends, and last year's audit committee trends, and concluded with a panel discussion on future tasks for the sustainable establishment of accounting reform.

In the first session, "Accounting Reform Briefing and Recent Trends," Professor Yang Dong-hoon of Dongguk University summarized the key points of accounting reform and emphasized matters related to the strengthened responsibilities and authority of audit committees. He also mentioned recent trends including ESG (Environmental, Social, and Governance) management, mandatory disclosure of non-financial information, precautions related to COVID-19, key points of the consolidated internal accounting control system, and considerations for audit committees.

The second session featured a presentation by Director Ha Mi-hye of the Samil Audit Committee Center on last year's audit committee trends. She covered notable points regarding the current status and changes in audit committees. She shared results analyzed from three aspects known to affect the effectiveness of audit committee roles: expertise, independence, and activity.

The panel discussion was moderated by Professor Yang Dong-hoon and included audit committee panelist Professor Choi Jong-hak of Seoul National University, corporate panelist Vice Chairman Jung Woo-yong of the Korea Listed Companies Association, external auditor panelist Hong Ki-soo, Head of Quality Control at Samil Accounting Corporation, investor panelist Shin Wang-geon, Chief Investment Policy Specialist at the National Pension Service, and regulatory panelist Choi Sang, former Director of the Accounting Management Bureau at the Financial Supervisory Service.

Lee Yong-jae, Head of the Samil Accounting Corporation Audit Committee Center, stated, “Going forward, the Samil Accounting Corporation Audit Committee Center will continue to provide various education and content tailored to the needs of audit committee members and auditors.”

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