[Accounting Society Election] ③ Representative Na Cheol-ho: "I Will Build a Strong Accounting Society That Does Not Remain Silent"

"Experts Must Speak Up Timely"
"Will Become the Best Expert Group, Not Subordinates of Regulatory Authorities"

"Experts must be able to raise their voices in a timely manner. I will build a strong Korean Institute of Certified Public Accountants (KICPA) that speaks out."

Na Cheol-ho, CEO of Jaejeong Accounting Corporation, who has announced his candidacy for the 47th KICPA presidential election, expressed this ambition.

In a recent interview with Asia Economy, Na said, "When accounting issues arise, raising our voices is one of the important roles of accountants in our society, but accountants have not done so until now." He added, "We remained silent because of ongoing lawsuits and investigations by prosecutors or police," emphasizing, "When accounting issues occur, we will immediately form a task force (TF) to publicly present problems and solutions."

Nacheolho, CEO of Jaejeong Accounting Corporation
[Photo by Jaejeong Accounting Corporation]

Alleviating Excessive Auditor Liability... Establishing a Permanent Strategic Development Think Tank

As part of his campaign promises, he pledged to ease excessive auditor liability and establish a permanent 'Think Tank' for strategic development.

Na pointed out, "Due to the side effects of the periodic auditor designation system, accountants can face life imprisonment if they make mistakes in audits," and criticized, "The supervisory authorities' organizational inspections excessively interfere not only in auditing but also in personnel, labor, and overall management." He added, "I will work to immediately improve excessive auditor liability and support maintaining the periodic designation system." He also stated, "I will reinstate the standard audit hours as a mandatory regulation rather than a reference and minimize the Financial Supervisory Service's organizational inspections."

Resolving Excessive Interference by Supervisory Authorities... Commitment to Work with Dedication

Na emphasized, "Currently, the accounting industry is facing high dissatisfaction among members due to low-fee competition and excessive interference by supervisory authorities," and reiterated, "In these difficult times, we must no longer be subordinates to the supervisory authorities but build the KICPA as the top expert group."

He has served as an executive of the KICPA for a total of six years, including four years as an auditor and two years as an elected vice president. Na said, "Based on my extensive experience in accounting work, I will accurately present the direction the KICPA should take," and expressed his determination, "As a young and principled candidate, I will work with a dedicated attitude."

He also shared his aspirations for nurturing young talent. He stated, "We will strengthen the capabilities of trainee accountants by conducting group face-to-face training by cohort, reduce the number of successful candidates, and activate the Youth Committee by opening a Practice Support Center." Additionally, he said, "We will promote employment support for women accountants with career interruptions, provide childbirth congratulatory allowances, and activate childcare support through flexible work systems."

Na proposed various pledges such as a member petition system where the president personally addresses issues when more than 100 members petition, and operating a member-exclusive call center, saying, "I truly want to create a member-centered and member-serving KICPA."

Recorded Over 40% Vote Share in the 46th Presidential Election

Born in 1972, Na graduated from Hanyang University with a degree in Business Administration. He passed the Certified Public Accountant exam in 2002 and joined Hanul Accounting Corporation. He served as vice president of KICPA for two years starting in 2020 and is currently CEO of Jaejeong Accounting Corporation. In the 2022 46th KICPA presidential election, he gained attention by securing a high vote share of 40.5% against the elected president Kim Young-sik.

KICPA is a professional organization with about 26,000 accountant members and an annual budget reaching 500 billion KRW. Alongside Na Cheol-ho, major candidates for the next president include Lee Jeong-hee, CEO of Deloitte Anjin, and Choi Un-yeol, former member of the National Assembly (in alphabetical order).

Currently, the race is a three-way contest among a CEO from a large accounting firm, a native accounting firm CEO, and a former lawmaker. Since the enforcement of the External Audit Act (regarding external audits of stock companies), the influence of accountants and the status of KICPA have increased, intensifying the election atmosphere.

KICPA will accept candidate registrations for the 47th president election until mid to late this month. Candidates must be recommended by 100 KICPA members who are certified public accountants to register. On June 19, at the KICPA regular general meeting, voting will be held among the candidates, and the one with the highest votes will be elected president.