Ihansang, Chief of the Accounting Standards Board, Appointed as the First Korean Member of PIOB

Supervising Compliance with International Standards
Enhancing Korea's Global Standing

Lee Hansang, President of the Korea Accounting Standards Board, has been appointed as a member of the Public Interest Oversight Board (PIOB), becoming the first Korean to hold this position.

The Korean Institute of Certified Public Accountants announced on the 21st that President Lee will serve as a PIOB member starting this month. His term is three years, with the possibility of renewal.

The PIOB is an international organization that oversees whether the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) establish and revise international auditing, assurance, and ethics standards in the public interest. It also oversees the entire appointment process of IAASB and IESBA members.

President Lee stated, "I will diligently oversee that the international auditing, assurance, ethics, and independence standards developed by IAASB and IESBA serve and align with the public interest. Additionally, I will work hard to ensure that the voices of various stakeholders, including the Korean accounting industry, are reflected in key current issues such as sustainability, accounting fraud, going concern, public interest entities, and information technology."

A representative of the Korean Institute of Certified Public Accountants said, "With President Lee’s appointment to the PIOB, the global status of Korea’s accounting and auditing industry has been further elevated. This will serve as an important stepping stone to contribute to the development of international standards for the public interest."

Ihansang, President of the Korea Accounting Standards Board. Provided by the Korean Institute of Certified Public Accountants