Audit Committee Forum to Hold '2024 2nd Regular Forum'

The Audit Committee Forum announced on the 24th that it will hold the "2024 2nd Regular Forum" as a breakfast seminar on the 29th of next month at the Westin Chosun Hotel in Jung-gu, Seoul, targeting auditors and audit committee members.

The Audit Committee Forum is a non-profit organization established in 2018 by the four major domestic accounting firms (Samil, Samjong, Anjin, and Han Young) to help enhance the expertise of auditors and audit committee members for improving corporate accounting transparency. The forum operates various programs, including regular forums and online educational courses, to enhance the professionalism of auditors (and audit committees).

The first lecture will be delivered by Professor Kim Ki-young, Dean of the Graduate School of Real Estate at Myongji University’s College of Business Administration, on the topic of "Understanding and Responding to the Stewardship Code." As institutional investors actively intervene aiming to monitor management and enhance shareholder value to increase corporate sustainability and create higher corporate value, the lecture will examine what auditors and audit committees need to know.

The second lecture will be presented by Shim Jung-hoon, Managing Director at Samjong KPMG, who will provide guidance on "External Audit Supervision Measures at the Financial Closing Stage and Responses to the Revised Internal Accounting Management System Evaluation and Reporting Standards," based on his industrial specialized audit experience. Through cases of audit-related corrective actions, he will introduce external audit supervision measures for audit committees and explain the revised internal accounting management system evaluation and reporting standards, emphasizing the importance of cash control.

A representative of the Audit Committee Forum emphasized, "The major regulatory changes covered in this lecture and the core roles of auditors and audit committees to be considered from the shareholder perspective will provide practical help to auditors and audit committee members."

Meanwhile, this Audit Committee Forum event is sponsored by the Financial Services Commission and the Korean Institute of Certified Public Accountants. Applications for participation are accepted on a first-come, first-served basis through the Audit Committee Forum website. Participation is free of charge.

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