Republic of Korea : Accounting and Auditing

World Bank

Washington, DC

关键词: ABBREVIATIONS;    ACCOUNTING;    ACCOUNTING STANDARDS;    ACCOUNTING SYSTEMS;    ACRONYMS;   

RP-ID  :  35091

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This report provides an assessment ofaccounting and auditing practices in the Republic of Korea(Korea). Korean Accounting Standards, which have beenestablished by an independent standard setting body, theKorea Accounting Standards Board (KASB), are largelyconsistent with International Financial Reporting Standards(IFRS). Korean Auditing Standards, which have beenestablished by the Korean Institute of Certified PublicAccountants (KICPA), are a translation of the InternationalStandards on Auditing. The statutory regulator's auditengagement reviews have been strengthened in the last fewyears. However, opportunities still exist for noncompliancewith established accounting and auditing standards. Thepolicy recommendations of this report focus on strengtheningthe monitoring and enforcement of established accounting,reporting, and auditing requirements.