KICPA was established in 1954 as the preeminent body of accounting and tax experts. We support our 18,000 and growing members to stretch their potential in the fields of accounting, auditing, tax, and business consultation.
KICPA members have been instrumental in the rapid growth and development of Korean industries, corporations and the national economy as a whole. In furtherance of this effort and for our nation to join the ranks of developed countries, we find it necessary to enhance accounting transparency in general, since transparency as we perceive it is demanded in every aspect of our society. To accomplish this mission, we employ professionalism and ethics in providing service to the public and private sectors, a practice through which KICPA is leading Korea’s economy towards sound, sustainable growth.
I assumed this demanding position as a representative of KICPA members, based on the belief that sound accounting makes economic fundamentals sound. The lack of soundness in accounting distorts numbers, thereby giving rise to wrong solutions and shaping skewed resource allocation, eventually allowing an inflow of money into the debt-ridden zombie companies.
In order to ensure sound accounting, we need to strengthen the responsibilities of F/S preparers and users, while normalizing audits fees, one of the lowest ones in the world, and clarifying the extent of CPAs’ responsibilities. We also need to enhance our self-regulatory function to prevent some of the accusations against a minority of CPAs from spreading across the accountancy profession.
I promise that we will continuously devote ourselves to the achievement of our mission, for the good of our members, as well as for the public’s interest, by underscoring the belief across the society that sound accounting makes economic fundamentals sound. There is a saying that “Hoping and dreaming alone is just limited to a daydream, but hoping and dreaming together make it reality.” I will make every effort to have a sound accounting structure with our members.