KICPA to Hold the 21st Sustainability Certification Forum on the 27th

The Korean Institute of Certified Public Accountants announced on the 21st that it will hold the 21st Sustainability Certification Forum on the 27th.

This forum will focus on examples of applying the International Financial Reporting Standards (IFRS) sustainability disclosure standards and implications for domestic companies. Shin Eunsook, a partner at Ernst & Young Han Young, and Kim Doyeon, a partner at Samil PricewaterhouseCoopers, will give keynote presentations. Shin Eunsook will explain examples of climate-related financial information disclosure under IFRS S2, while Kim Doyeon will discuss examples of social and governance-related financial information disclosure based on IFRS S1.

The panel discussion will be chaired by Professor Jeon Kyuan of Soongsil University. The panelists include: Kwon Seongsik, Head of the Center at the Korean Standards Association; Kim Huntae, Executive Director at POSCO; Oh Seungjae, CEO of Sustinvest; Lee Sangho, Research Fellow at the Korea Capital Market Institute; Lee Unghee, Standing Member of the Korea Accounting Standards Board; Jeong Kwanghwa, Professor at Kangwon National University; and Heo Gyuman, Partner at Deloitte Anjin.

Choi Woonyeol, President of the Korean Institute of Certified Public Accountants, stated, "For companies that have been making disclosures based on the GRI standards, which focus on impact materiality, the IFRS sustainability disclosure standards, which emphasize financial materiality, will present a new challenge." He added, "I hope this forum will support companies in preparing for the adoption of IFRS sustainability disclosure standards and serve as a meaningful opportunity to reflect on the role of the accounting industry."

The Korean Institute of Certified Public Accountants has continuously provided a platform for sharing the accounting industry's expertise in sustainability certification and discussing relevant implications and response strategies through the Sustainability Certification Forum. In addition, the institute has been making consistent efforts to establish sustainability disclosure and certification in Korea through various initiatives, including translating international certification standards, offering educational programs such as the ESG Academy, and publishing related materials.