112 Companies Violated Regulations on Appointment of Auditors This Year

It has been revealed that many companies are still being audited by external auditors designated by financial authorities due to violations of regulations related to the appointment of auditors.

According to the Financial Supervisory Service (FSS) on the 14th, a total of 112 companies were designated auditors this year until October for violating the auditor appointment deadline or selection procedures.

Among them, 96 companies missed the auditor appointment deadline, and 16 companies violated the procedures. This represents a 40.7% decrease compared to last year (189 companies).

The FSS stated, "In some cases, violations of deadlines and procedures still occur due to a lack of understanding of the auditor appointment system." It added, "Since the auditor appointment deadline, the fiscal year subject to appointment, auditor qualification requirements, and selection procedures differ by company type, it is essential to verify the relevant type and strictly comply with the regulations."