• Register
Return to: Home > News > Standards > Chief executive of Korean standard setter appointed

Chief executive of Korean standard setter appointed

The Korea Accounting Institute (KAI) has appointed Jee In Jang as the chair and chief executive officer of the Korea Accounting Standards Board (KASB), effective 1 March.

Jang, a former KAI president, is currently a professor at the business school of Chung-Ang University and is the chair of the Accounting Credibility Enhancement Committee of the Korean Institute of Certified Public Accountants.

Jang will be assisted by Sungsoo Kwon who was appointed as vice-chair of KASB. Previously Kwon was senior director of KASB.

Jang and Kwon will take over current chair Suk-Sig Lim and vice-chair Chanhong Kim.

Under Jang's leadership the KASB will focus on the implementation of the IFRS in Korea, the standard setter said in a statement.

IFRS is a requirement for all listed companies in the Korea Exchange (KRX) as well as for financial institutions- even if they are not listed- including banks, insurance companies, investment brokers or credit card companies among others.

Besides of its domestic standard-setting role for unlisted companies, the KASB eases the Korean government's endorsement of IFRS.

So far, all IFRS as issued by the International Accounting Standards Board have been endorsed without carve-outs or modifications, adopting the denomination of K-IFRS.

Foreign KRX-listed companies can, however, choose between IFRS, K-IFRS and US GAAP.

Related link:

KAI / KASB

Top Content

    2018 Digital Accountancy forum and awards: Digital transformation

    The Accountant presents highlights from The Digital Accountancy Forum & Awards 2018 panel discussions

    read more

    2018 Digital Accountancy Forum and Awards: Tech deep dive

    The second panel session of the day saw experts discuss how new technologies should not just be seen as a threat, and could be used to improve accounting.

    read more

    Digital Accountancy Forum and Awards: The power of data

    The third panel discussion of the day saw panellists discuss some of the worries their clients have had, how to overcome them, and how data and technology are providing real business opportunities.

    read more

    Digital Accountancy Forum and Awards: The next generation

    With young people more mobile, and technology changing the industry rapidly, the final panel session of the Digital Accountancy Forum looked at how firms would need to adapt to the new reality

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.