Exchange Conducts Internal Accounting Control System Consulting for KOSDAQ and KONEX Companies
Customized Support Plans for 50 KOSDAQ Companies and 20 KONEX Companies
The Korea Exchange announced on the 5th that it will jointly conduct internal accounting control system consulting for KOSDAQ and KONEX listed companies with the Korean Institute of Certified Public Accountants starting next month.
The consulting will be exclusively handled by the Exchange's Small and Medium Enterprise Accounting Support Center, and all costs will be fully covered. This year, a total of 70 companies will be selected, including 50 from KOSDAQ and 20 from KONEX, to receive customized consulting. The Small and Medium Enterprise Accounting Support Center was established within the Exchange in October last year to reduce the accounting burden on small and medium enterprises.
The focus of this consulting is on market-specific tailored support. Priority will be given to small-scale corporations with weak accounting infrastructure, specifically KOSDAQ companies with assets under 100 billion KRW that are exempt from external audits of their internal accounting control systems. Additionally, to support the activation policy of the KONEX market, corporations among KONEX companies that are currently pursuing or planning to transfer to KOSDAQ will also be included in the support.
There are also plans to actively enhance consulting quality and strengthen feedback. The Exchange stated, "We will expand the pool of consultants and improve consulting quality in cooperation with the Korean Institute of Certified Public Accountants," adding, "We will continue to provide ongoing services to companies even after the consulting." Furthermore, a dedicated website for the Accounting Support Center will be established to summarize and distribute key consulting results.
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Applications for consulting are expected to be made within this month. The Exchange said, "Through this consulting, the reliability and transparency of accounting information will be significantly improved," and added, "It will also provide an opportunity to inspect and diagnose the operation status of internal accounting control systems of listed companies."
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