Audit Committee Forum to Hold '2025 1st Regular Forum' on May 28

The Audit Committee Forum announced on April 28 that it will hold the '2025 1st Regular Forum' at the Westin Chosun Hotel in Jung-gu, Seoul on May 28.

The Audit Committee Forum is a non-profit organization jointly established in 2018 by the four major accounting firms in Korea (Samil, Samjong, Anjin, Hanyoung) to enhance corporate accounting transparency and strengthen the expertise of audit committees. The forum operates a variety of programs, including regular forums and online educational courses.

This forum will be held in the form of a breakfast seminar under the main theme of "A New Paradigm for Preventing Fund Fraud: New Roles and Strategies for Boards of Directors and Audit Committees." The event aims to share strategies for preventing fund fraud and strengthening internal controls, targeting corporate auditors and audit committee members.

Jung-Sook Yoon, Accounting Expert Deliberation Committee Member at the Financial Supervisory Service, will re-examine the roles and responsibilities of boards of directors and audit committees amid the recent tightening of fund fraud regulations, and will present practical risk prevention and response strategies.

In the first session, Hyun Jung, Head of the Internal Accounting Management System CoE Center at Deloitte Korea, will give a presentation titled "Internal Accounting Management Systems and Fund Fraud: Checkpoints for Effective Disclosure and Early Disclosure Cases." Jung will analyze and explain recent trends in fund-related internal accounting management system disclosures and early disclosure cases, and will introduce specific examples focused on the practical preparation of disclosure forms related to fund fraud controls. In addition, Jung will highlight key items that governance bodies must check to effectively respond to the strengthening of fund fraud control disclosures.

In the second session, Seung-Young Lee, Leader of Asset Development and Data Analytics Group at Deloitte Korea, will present on "Data-Driven Fund Incident Detection Cases." Lee will introduce anomaly detection solutions that monitor fund flows in real time and identify suspicious transactions at an early stage using data, and will propose effective internal control measures and preemptive response strategies.

In the third session, Jae-Hwan Park, Professor at Chung-Ang University School of Business, will discuss "Financial Reporting and Internal Controls: Corporate Response Strategies Through Recent Case Analysis." Park will analyze the organic relationship between financial reporting and internal controls, diagnose the causes of internal control failures based on recent accounting fraud cases, and share strategies for establishing effective internal control systems and responding to risks.

A representative of the Audit Committee Forum stated, "In a rapidly changing business environment, this will be a meaningful opportunity to provide practical insights to governance bodies seeking to enhance corporate transparency and accountability."

Meanwhile, the forum is sponsored by the Financial Services Commission and the Korean Institute of Certified Public Accountants. Registration is on a first-come, first-served basis through the Audit Committee Forum website, and participation is free of charge.

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