Hangonghoe, 'Young Accountants Town Hall Meeting' and 'Meeting of Representatives of Listed Corporations and Registered Entities'

The Korean Institute of Certified Public Accountants (KICPA) announced on the 7th that it held a "Meeting of Representatives of Listed Registered Corporations" the previous day at The Plaza Hotel in Jung-gu, Seoul. The meeting was attended by more than 80 accounting industry stakeholders, including representatives and quality control managers from a total of 40 listed registered corporations.

Korea Institute of Certified Public Accountants Chairman Choi Un-yeol is delivering a greeting at the 'Meeting of Representatives of Listed Corporations and Others' held on the 6th at the Maple Hall of The Plaza Hotel. Photo by Korea Institute of Certified Public Accountants

Choi Un-yeol, President of the Korean Institute of Certified Public Accountants, expressed his gratitude in his opening remarks at the meeting, saying, "I thank all members who have done their best amid challenging domestic and international conditions and economic circumstances," and added, "Let us unite our will and strength to resolve the urgent issues and problems together."

During the meeting, key accounting policy initiatives were introduced, focusing on the periodic designation grace plan announced by financial authorities at the end of last December. Responses to recent accounting industry issues and external challenges were also shared.

Participants expressed serious concerns about financial leakage and the deterioration of accounting transparency in the public and nonprofit sectors, such as audits of local government private consignment projects and verification of national subsidy project settlements. There was consensus that more proactive measures are needed to address these issues going forward.

Prior to this, the Korean Institute of Certified Public Accountants also held a Young Certified Public Accountants Town Hall Meeting on the 2nd at the KICPA building. The town hall meeting, organized to facilitate open communication on recent accounting industry issues, was attended by about 130 people. President Choi stated at the town hall meeting, "We will continue to activate opinion gathering through more diverse methods to promote active communication with young members."