Regulatory Alerts2017-08-03
Amendments Proposed to the Enforcement Rule of the Act on External Audit of Stock Companies
The Financial Services Commission announced amendments to the Enforcement Rule of the Act on External Audit of Stock Companies. These updates define the composition and member eligibility criteria for the Accounting Audit Standard Board under the Korean Institute of Certified Public Accountants and the Accounting Process Standard Committee under the Korea Accounting Institute. The revisions operationalize the amended Enforcement Decree by formally structuring these standard-setting bodies within Korea's external audit regulatory framework.
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