"Measures to Strengthen Internal Controls for Financial Accidents"... Samil PwC Seminar on the 6th of Next Month

Samil PwC announced on the 28th that it will hold an on-site seminar on the theme of "Proactive Prevention and Response to Financial Accidents Following the Implementation of the Accountability Structure System" at 2 p.m. on the 6th of next month in Amore Hall on the 2nd floor of its headquarters in Yongsan-gu, Seoul.

Financial companies are currently in a situation where they must externally respond to regulatory changes and internally focus on establishing and strengthening effective internal controls. Since the Financial Companies Governance Act (Governance Act) came into effect in July, financial companies are required to submit an accountability structure chart detailing the allocation of responsibilities by position held by executives by January next year. Recent large-scale embezzlements and successive financial accidents have increased the sense of responsibility and burden.

The seminar will be attended by Samil PwC’s risk management and internal control experts, as well as legal and regulatory specialists in related fields. Presentations will cover topics such as ▲ Repeated financial accidents: viewing from the root ▲ Response and management of financial accidents through re-examining effectiveness ▲ Transition of financial accident management systems ▲ Policy directions for preventing financial accidents ▲ Legal issues and response measures related to financial accidents. During the Q&A session, the presenters will discuss management obligations following the implementation of the accountability structure system and cases of responding to financial accidents.

Park Hyun-chul, PwC Consulting Partner and presenter, stated, “All domestic financial companies must devote great effort to a company-wide major innovation and strengthening of internal controls following the implementation of the accountability structure system,” adding, “We hope this seminar will be a great help in setting the direction for establishing effective internal controls.” Seminar registration is available on the Samil PwC website until the 1st of next month.

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