Republic of Korea : Accounting and Auditing
This report provides an assessment of
accounting and auditing practices in the Republic of Korea
(Korea). Korean Accounting Standards, which have been
established by an independent standard setting body, the
Korea Accounting Standards Board (KASB), are largely
consistent with International Financial Reporting Standards
(IFRS). Korean Auditing Standards, which have been
established by the Korean Institute of Certified Public
Accountants (KICPA), are a translation of the International
Standards on Auditing. The statutory regulator's audit
engagement reviews have been strengthened in the last few
years. However, opportunities still exist for noncompliance
with established accounting and auditing standards. The
policy recommendations of this report focus on strengthening
the monitoring and enforcement of established accounting,
reporting, and auditing requirements.
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Bibliographic Details
| Main Author: |
World Bank |
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| Language: | English
en_US |
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| Published: |
Washington, DC
2004-06-30
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| Subjects: | ABBREVIATIONS,
ACCOUNTING,
ACCOUNTING STANDARDS,
ACCOUNTING SYSTEMS,
ACRONYMS,
ANNUAL REPORTS,
APPROPRIATIONS,
ARRANGEMENT,
AUDITED FINANCIAL STATEMENTS,
AUDITING,
AUDITING STANDARDS,
AUDITS,
BANKING INDUSTRY,
BENCHMARKS,
BORROWING,
BORROWING COSTS,
CLASSIFICATION,
COLLATERAL,
COMMERCIAL BANKS,
CONTINGENT LIABILITIES,
CORPORATE GOVERNANCE,
CORPORATE INFORMATION,
DEBT,
DESCRIPTION,
DISCLOSURE,
EXTERNAL AUDITORS,
FILING,
FINANCIAL ACCOUNTING,
FINANCIAL ACCOUNTING STANDARDS,
FINANCIAL CRISIS,
FINANCIAL INFORMATION,
FINANCIAL INSTITUTIONS,
FINANCIAL REPORTING,
FINANCIAL REPORTING STANDARDS,
FINANCIAL TRANSACTIONS,
FOREIGN EXCHANGE,
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES,
INCOME TAXES,
INSIDER TRADING,
INSURANCE,
INVESTMENT BANKERS,
INVESTOR PROTECTION,
PACIFIC REGION,
PENSION PLANS,
PRIVATE SECTOR,
PROVISIONS,
PUBLIC,
PUBLIC COMPANIES,
RATING AGENCIES,
REGULATORY FRAMEWORK,
SECURITIES,
SHAREHOLDERS,
TAX,
TAXATION, |
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| Online Access: | http://documents.worldbank.org/curated/en/2004/06/6579640/korea-republic-report-observance-standards-codes-rosc-accounting-auditing
https://hdl.handle.net/10986/14510
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