Korea Deloitte Group Hosts '2024 Corporate Governance Development Center Seminar'

Discussion on Domestic Internal Control Status and Supervision Direction
Presentation of External Director's Internal Control Supervision Evaluation Method
Internal Control and Governance Improvement Receive Strong Support from Attendees

Deloitte Korea Group announced on the 3rd that it successfully held the '2024 Deloitte Korea Group Corporate Governance Development Center Seminar' at Two IFC, Seoul International Financial Center in Yeouido.

Experts are conducting a panel discussion at the '2024 Corporate Governance Development Center Seminar.' From the left, Hanseok Kim, Head of the Corporate Governance Development Center at Deloitte Korea Group; Seungwon Yoo, Chairperson (Advisor of the Corporate Governance Development Center at Deloitte Korea Group and Professor at Korea University Business School); Jion Kim, Audit Team Leader at Shinhan Financial Group; Changwan Son, Professor at Yonsei University Law School; Hyuk Son, Professor in the Department of Accounting and Taxation at Keimyung University and recipient of the Deloitte Anjin Academic Award (Merit Award) from the Korean Accounting Association; Seungyoung Lee, Senior Director of Asset Development and Data Analytics Group at Deloitte Korea Group.
[Photo by Deloitte Korea Group]

The main theme of this seminar was 'Current Status and Supervisory Directions of Domestic Internal Control.' Key topics included ▲Cases of intentional and gross negligence issues ▲Evaluation methods for outside directors' internal control supervision ▲Internal control improvement plans following the introduction of responsibility charts ▲Global board gender ratio status and 2024 audit committee key tasks based on Deloitte Global data ▲Current status and preparations of corporate internal control to prevent financial accidents.

Starting with the opening remarks by Hong Jongseong, CEO of Deloitte Korea Group, the first session featured a keynote lecture by Professor Park Jaehwan, advisory committee member of the Corporate Governance Development Center and professor at Chung-Ang University’s Business Administration Department, titled 'Issues and Implications of Intentional or Gross Negligence Cases.' Professor Park emphasized that violations of accounting treatment are highly likely to be linked to constructive intent.

In the second session, Professor Jang Jeongae, advisory committee member of the Corporate Governance Development Center and professor at Ajou University School of Law, presented on 'The Significance and Implications of Outside Directors’ Internal Control Supervision.' Professor Jang explained the significance of internal control systems and supervision through various precedents, highlighting that the Supreme Court recently judges directors’ duty of monitoring based on the establishment and operation of internal control systems.

The third session featured a lecture by Kwon Daehyun, partner of Deloitte Korea Group’s Financial Audit and Advisory Group, on 'Internal Control Improvement Directions Following the Introduction of Responsibility Charts in Financial Companies.' Partner Kwon stressed the importance of checking the appropriateness of responsibility statements by department heads and the execution of control activities according to internal control manuals, as well as the establishment of systems related to monitoring and reporting procedures in the overall operations division.

In the fourth session, Kim Hanseok, head of Deloitte Korea Group’s Corporate Governance Development Center, presented on the 8th edition of the regular report 'Women in the Boardroom' and the '2024 Audit Committee Practical Report,' published by Deloitte Global’s Board Program.

This seminar covered various topics and cases related to internal control and corporate governance improvement, receiving great responses from attendees.