Regulatory Alerts2017-07-28
Higher Monetary Award Proposed for the Reporting of Accounting Irregularities
The Financial Services Commission proposed amendments to the Regulations on Procedure and Reward for Reporting Accounting Irregularities, establishing a higher monetary award for whistleblowers. This revision builds upon recent changes in the Enforcement Decree of the Act on External Audit of Stock Companies to incentivize more frequent and accurate financial disclosures. The updated regulatory framework increases payout thresholds for verified accounting violations, thereby strengthening corporate accountability and market transparency.
Higher Monetary Award Proposed for the Reporting of Accounting Irregularities
Date
2017-07-28
View
414
File
Higher Monetary Award Proposed for the Reporting of Accounting Irregularities_.pdf (fileSize: 154KB)
The Financial Services Commission proposed amendments to the Regulations on Procedure and Reward for Reporting Accounting Irregularities that will set a higher monetary award for the reporting of accounting irregularities. This is a follow-up revision of the increased award for whistleblowers in the Enforcement Decree of the Act on External Audit of Stock Companies.
List
Previously
Amendments Proposed to Regulations on External Audit and Accounting
Next
Re-Announcement of Amendments Proposed to the Credit Information Use and Protection Act
Department/Division in charge of Information management
Department/Division In charge
International Affairs Department(Financial Hub Korea) International Cooperation Team
Phone Number
+82-2-3145-7895