The Financial Services Commission (FSS) of Korea has issued new evaluation and reporting standards and guidelines for listed companies’ internal accounting management systems. These standards aim to enhance transparency and accountability in the financial reporting of companies. The guidelines cover areas such as internal control measures, risk assessment, and compliance with accounting standards. The FSS encourages companies to adopt these standards and improve their accounting management systems to ensure accurate financial reporting.
Korea sets standards for evaluating accounting management systems.
Latest from News
Discover the Biggest Flaw in Accounting Firm Leaders.
TLDR: Accounting Firm Leaders’ greatest flaw is the inability to have uncomfortable conversations, also known as constructive confrontation. Koltin Consulting Group CEO Allan Koltin
UK watch dog’s funds dip due to missed company donations.
UK Audit Watchdog Loses Money as Company Donations Miss Target TLDR: Key Points: UK’s audit watchdog, FRC, lost money last year due to failed
IRS Requires Farm Firm’s Accounting Change Before Approval
TLDR: – Department of Justice says an Arkansas firm cannot change its accounting method without IRS approval – Conmac Investments Inc. started claiming amortization
FASB’s new rules affect derivatives and stock-based payment guidelines.
Article Summary TLDR: Key Points: FASB issued a proposed accounting standards update to address stakeholder feedback on derivative accounting and share-based payment rules. The
Experience seamless business banking and accounting with Lili.
Article Summary TLDR: Key Points: Lili is a fintech company offering all-in-one business banking, accounting, and tax software. The platform provides free business checking