2017년 개정 외부감사법의 주요쟁점 검토 (A Critical Review of Major Issues of the Act on External Audit of Stock Companies, etc. Amended in 2017)

서지정보

· 발행기관 : 한양법학회
· 수록지 정보 : 한양법학 / 29권 / 3호 / 229 ~ 257페이지
· 저자명 : 정준우

초록

In the case of a corporation, which has an overwhelming advantage in Korea, there is a case in which the public interest is clear depending on the type of business or size, or the effect on the national economy is high, so that highly accurate accounting treatment and strict audit are required. In addition to seeking the interests of shareholders, these corporations also require social responsibility for employees and consumers, as well as the general public. Therefore, stakeholders who do not participate directly in management can also provide various materials to effectively understand the company's financial condition and business performance. It is very important to do. However, since the internal audit of the Commercial Act did not meet all of these requirements, auditing by outside experts was mandatory for corporations meeting certain requirements under the Act on External Audit of Stock Companies. Nonetheless, corporate practices have consistently generated various accounting frauds, which has created a social consensus that the external audit system should be restructured in its entirety.
In the 20th National Assembly, which was launched under such circumstances, 17 amendments to the Act on External Audit of Stock Companies were initiated. However, the legislative subcommittee of the National Assembly decided to incorporate and adjust the main contents of the legislation and propose it to a separate committee, without giving 17 revisions to the plenary session. As a result, the committee on legislation proposes an alternative to the subcommittee on legislation to be revised by the committee. The amendment was promulgated on October 31, 2017, passing the plenary session on September 28, 2017, It will be implemented. However, the revised Act is very vast and contains a lot of problems of each amendment, which may lead to further legal disputes in the future, and confuses the company practices that are familiar with the existing system. In this paper, we focus on only the revisions related to the appointment, designation and accountability of external auditors among the main contents of the revised external audit law, identify the problems and sought a reasonable improvement plan.

영어초록

In the case of a corporation, which has an overwhelming advantage in Korea, there is a case in which the public interest is clear depending on the type of business or size, or the effect on the national economy is high, so that highly accurate accounting treatment and strict audit are required. In addition to seeking the interests of shareholders, these corporations also require social responsibility for employees and consumers, as well as the general public. Therefore, stakeholders who do not participate directly in management can also provide various materials to effectively understand the company's financial condition and business performance. It is very important to do. However, since the internal audit of the Commercial Act did not meet all of these requirements, auditing by outside experts was mandatory for corporations meeting certain requirements under the Act on External Audit of Stock Companies. Nonetheless, corporate practices have consistently generated various accounting frauds, which has created a social consensus that the external audit system should be restructured in its entirety.
In the 20th National Assembly, which was launched under such circumstances, 17 amendments to the Act on External Audit of Stock Companies were initiated. However, the legislative subcommittee of the National Assembly decided to incorporate and adjust the main contents of the legislation and propose it to a separate committee, without giving 17 revisions to the plenary session. As a result, the committee on legislation proposes an alternative to the subcommittee on legislation to be revised by the committee. The amendment was promulgated on October 31, 2017, passing the plenary session on September 28, 2017, It will be implemented. However, the revised Act is very vast and contains a lot of problems of each amendment, which may lead to further legal disputes in the future, and confuses the company practices that are familiar with the existing system. In this paper, we focus on only the revisions related to the appointment, designation and accountability of external auditors among the main contents of the revised external audit law, identify the problems and sought a reasonable improvement plan.

참고자료

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