Korea Deloitte: "Boards Must Evolve into Integrated Supervisory Bodies for Risks in the Era of AI and Virtual Assets"

'Corporate Governance Advancement Center Webinar' Successfully Concludes

The Korea Deloitte Group Center for Corporate Governance Advancement held the 'Corporate Governance Advancement Center 2025 Webinar' on November 12, emphasizing that the supervisory roles of boards of directors and audit committees must strategically evolve to comprehensively oversee new risks in the era of artificial intelligence (AI) and virtual assets, amid rapidly changing technological and risk environments.

This webinar was held under the theme 'Challenges for Boards of Directors and Audit Committees in a New Environment: Risk, Virtual Assets, and AI Governance,' and consisted of three sessions: ▲Responding to Risks ▲Supervision of Virtual Assets ▲Supervision of AI Governance Frameworks. Experts from Korea Deloitte Group engaged in in-depth discussions on the paradigm shift in supervisory bodies and strategic response directions in the context of rapidly changing regulatory and business environments.

In the first session, Park Jongsung, Professor at the School of Business Administration at Sookmyung Women’s University and advisor to the Center for Corporate Governance Advancement, gave a presentation titled 'Corporate Risks and Governance Response Strategies as Seen Through Cases of Fraud, Based on Experience as a Member of the Securities and Futures Commission.' Professor Park shared his experience analyzing numerous cases of corporate accounting fraud as a non-standing member of the Securities and Futures Commission, emphasizing that audit committees must go beyond simple monitoring to proactively identify risks and establish systems that can respond to accounting fraud.

Next, Kim Kyungho, Head of the Digital Asset Center at Korea Deloitte Group, presented on 'Governance Responses and Supervisory Measures for Virtual Assets.' Kim addressed the recent tightening of virtual asset regulations and institutional changes, specifically highlighting the accounting and internal control risks that may arise when companies hold virtual assets. He also proposed a supervisory framework and practical implications for governance bodies to manage these risks comprehensively.

In the final session, Kim Hakbeom, Partner at the Integrated Finance Service Group within the Audit Division of Korea Deloitte Group, delivered a presentation titled 'The Evolution of Governance Roles and Responsible AI Governance Supervision in the Age of AI.' Kim explained the impact of AI proliferation on corporate decision-making and internal control systems, suggesting that audit committees should evolve from merely reviewing outcomes to strategically preempting and supervising risks associated with AI utilization. He further stressed that it is a core task for boards of directors and audit committees to supervise the establishment of reliable AI governance systems within companies to support sustainable corporate growth.

Kim Hanseok, Head of the Center for Corporate Governance Advancement at Korea Deloitte Group, remarked, "This webinar comprehensively highlighted the supervisory challenges that governance bodies must address in new risk environments, including risk response, supervision of virtual assets, and AI." He added, "The Korea Deloitte Group Center for Corporate Governance Advancement will continue to provide practical support and research to advance corporate governance and enhance accounting transparency."