"Reduced Selection of Accountants"...Korean Institute of Certified Public Accountants Election, Capturing Young Voters' Support

Under 40s Account for an Absolute Majority of 64.4%, Chairman Election Candidates Draw Attention with Unique Pledges
Anonymous Chat Implemented for Communication...Flexible Work System Proposed for Working Moms

[Asia Economy Reporter Park Jihwan] With the election for the president of the Korean Institute of Certified Public Accountants (KICPA), representing over 22,000 accountants, just two weeks away, candidates are busy courting the votes of young people and women.

According to the KICPA on the 4th, the institute posted videos of five candidates presenting their platforms for the 66th regular general meeting president election, which will be conducted via electronic voting for the first time, on its website on the 3rd. Due to the introduction of electronic voting, it is anticipated that the election outcome will largely depend on the young voters’ preferences. Accountants aged 40 and under make up 64.4% of the electorate, representing an overwhelming majority. The candidates’ pledges also caught attention as they included promises targeting young accountants, which were rarely seen in previous elections.

First, all candidates commonly pledged to reduce the number of CPA exam passers, a matter directly linked to job opportunities for young accountants. The number of CPA admissions has increased by nearly 30% over the past two years. Candidate Choi Jongman emphasized, “The number of successful candidates, which used to be in the hundreds, has now exceeded 1,000,” adding, “It is necessary to adjust the numbers in line with the long-term predicted decrease in demand, as many audit tasks are being replaced by computerized methods.” Choi also proposed reducing membership fees, stating, “We will organize the institute to utilize human resources efficiently and cut costs to lessen the financial burden on members.”

Candidate Kim Youngsik stressed the job security of young accountants above all. He promised, “If conflicts arise in service areas with other professions such as tax accountants or lawyers, KICPA will actively protect the rights and interests of young members.” Candidate Chae Ibae focused on securing balanced representation within KICPA’s organizational bodies. He stated, “We will ensure balance among youth, women, and corporate size in all KICPA bodies and involve young and female accountants at a rate of 20% each in all composition ratios.” He added, “We will strive to improve accountants’ quality of life by maintaining the 52-hour workweek system and alleviating workload concentration through changes in audit and tax deadlines for unlisted companies.”

There were also pledges reflecting concerns to address the hardships of working mothers. Candidate Jung Mingeun said, “We will diversify communication channels with young and female members and implement anonymous real-time chat to directly hear their voices.” He plans to produce regular publications for members on leave and develop accounting and tax materials necessary for their return to full-time work. Candidate Hwang Intae stated, “The shortage of accountants can be addressed through the 35% of members who are on leave and women accountants with career interruptions,” and announced, “We will introduce a flexible work system that can respond to the demand for various working styles.”

Promises likely to appeal to young accountant members were also made. Candidate Hwang pledged, “We will issue welfare cards similar to the Lawyer’s Card from the Bar Association, allowing members to receive various discounts on hotels, leisure, medical services, and more,” and promised, “We will introduce a simple loan system with a limit of 150 million KRW for members facing temporary difficulties in securing funds for home purchases.”