Regulatory Alerts2017-07-25
Added · Updated
Amendments Proposed to the Enforcement Rule of the Act on External Audit of Stock Companies
The Financial Services Commission proposes amendments to the Enforcement Rule of the Act on External Audit of Stock Companies to establish composition and member eligibility rules for the Accounting Audit Standard Board and the Accounting Process Standard Committee. The proposal requires the president of the Korean Institute of Certified Public Accountants to obtain consent from the chairman of the Securities and Futures Commission when appointing the head of the Audit Quality Control Review Committee, and grants the chairman the authority to request the dismissal of that head. These proposed amendments are open for public comment until September 5, 2017.
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