Korean and Japanese Institutes of Certified Public Accountants Hold 27th Annual Meeting

Discussion on Major Issues Including Sustainability Disclosure

The Korean Institute of Certified Public Accountants (KICPA) announced on June 4 that it held the 27th Korea-Japan Annual Meeting jointly with the Japanese Institute of Certified Public Accountants (JICPA) at The Westin Chosun Seoul on May 30, where representatives from both countries discussed major accounting and auditing issues and current topics.

At the Korea-Japan Annual Meeting held at The Westin Chosun Seoul on the 30th of last month, representatives from the accounting societies of both countries are taking a commemorative photo. From the front row, left to right: Changho Yoon, Vice Chairman of External Cooperation, Korean Institute of Certified Public Accountants; Unyul Choi, Chairman, Korean Institute of Certified Public Accountants; Tetsuya Mogi, Chairman, Japanese Institute of Certified Public Accountants; Wonjung Seo, Full-time Vice Chairman, Korean Institute of Certified Public Accountants; Naruhito Minami, Vice Chairman, Japanese Institute of Certified Public Accountants. Korean Institute of Certified Public Accountants

The Korea-Japan Annual Meeting is a regular exchange event between the accounting societies of the two countries that has continued since the 1990s. The event is held alternately in Korea and Japan each year to share institutional and practical issues in the fields of accounting and auditing and to seek ways for mutual cooperation.

This year's meeting was attended by about 20 officials, including the presidents of both organizations, and featured wide-ranging discussions on joint responses and cooperation measures regarding the changing accounting and auditing environment. In particular, participants exchanged views on common interests such as sustainability disclosure and assurance, as well as accounting, auditing, and tax issues related to virtual assets, and shared differences between the systems of the two countries.

Choi Unyul, Chairman of the Korean Institute of Certified Public Accountants, said, "This meeting is a meaningful occasion to jointly consider the social responsibilities faced by the accounting profession and its role amid rapidly changing internal and external environments, and to derive practical cooperation measures."

Tetsuya Mogi, Chairman of the Japanese Institute of Certified Public Accountants, said, "It is highly significant that the accounting societies of both countries have continued exchanges based on mutual trust," adding, "I hope this meeting will further strengthen the foundation for cooperation between the two countries."

Meanwhile, Naruhito Minami, Vice Chairman of the Japanese Institute of Certified Public Accountants, who has been nominated as the next chairman to succeed Tetsuya Mogi, who is scheduled to retire in July, also attended the meeting and expressed his commitment to continued communication and cooperation between the accounting societies of both countries.