Jipyeong announced on September 1 that it has expanded and restructured its existing "Accounting Regulation Team" into the "AI Accounting Audit Response Center" to respond more professionally and comprehensively to changes in accounting regulations and the financial environment.
Since the comprehensive revision of the "External Audit Act for Corporations," regulations and oversight related to accounting have been continuously strengthened.
In particular, investigations into directors' misconduct, sanctions for cooking the books, and liability for damages against auditors have been intensified. Additionally, a periodic designation system for auditors of listed companies and an auditing system for internal accounting management have been introduced, making the responsibilities and obligations related to accounting much stricter for company directors, auditors, and external auditors.
Recently, financial authorities have been promoting improvements to related systems, such as accounting supervision and audits, to enhance accounting transparency, increasing the need for proactive responses to accounting-related risks for companies.
As the adoption and utilization of AI in the financial sector expands and the AI financial environment rapidly changes, Jipyeong has launched the AI Accounting Audit Response Center to proactively respond to and support these changes.
The center will systematically provide advice on complex accounting regulations related to audit supervision, delisting, legal advice on accounting, civil and criminal lawsuits, and administrative litigation, collaborating with various fields and groups as needed to offer comprehensive advice.
Key members include Kim Seok-dong, a former chairman of the Financial Services Commission, and Park Soon-cheol, the center's head and former chief prosecutor of the Southern District Prosecutors' Office, along with Kim Myung-cheol, a former Financial Supervisory Service official, and numerous lawyers, certified public accountants, and experts in finance and accounting.
Park Soon-cheol, head of the AI Accounting Audit Response Center, stated, "As accounting regulations and oversight are strengthened, the legal issues companies must address are becoming increasingly complex, ranging from audit supervision to maintaining listings and civil and criminal lawsuits. The AI Accounting Audit Response Center will harness the expertise of Jipyeong's specialists to respond comprehensively and professionally to accounting regulations and effectively support our clients' business activities."
* This article has been translated by AI.
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