Exchange Conducts Internal Accounting Control System Consulting for KOSDAQ and KONEX Listed Companies

The Korea Exchange announced on the 9th that it plans to conduct preliminary consulting on internal accounting control systems for KOSDAQ and KONEX listed companies starting in May, in collaboration with the Korean Institute of Certified Public Accountants.

Korea Exchange, Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

This year, 70 companies (50 KOSDAQ and 20 KONEX), slightly more than last year, will be selected to receive differentiated consulting tailored to each company's circumstances.

The consulting will include a new type that checks controls to prevent common deficiencies related to internal accounting control systems in small and medium-sized enterprises and provides guidance on preparing evaluation-related documentation that companies can effectively utilize. Additionally, the consulting will focus on diversifying consulting types, enhancing industry expertise, and emphasizing post-consulting follow-up management.

An exchange official stated, "This consulting will provide KOSDAQ and KONEX listed company practitioners with an opportunity for self-diagnosis and inspection of deficiencies in the operation of internal accounting control systems, and furthermore, we hope it will serve as a turning point for management to recognize the importance of establishing and operating internal accounting control system infrastructure." The official added, "We plan to announce the consulting to KOSDAQ and KONEX listed companies in April, accept applications, and begin full-scale consulting from May."