• Register
Return to: Home > News > 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

    Q&A: Code on managing risk in UK financial services revamp

    Following the UK Chartered Institute of Internal Auditors (CIIA UK) release of its updated code on managing risk in UK financial services, CIIA UK policy and external relations director Alisdair McIntosh discusses the changes to the code and how it aims to strengthen the internal audit function within companies. Interview by Vincent Huck

    read more

    French accountants pledge to tap into the advisory market

    The French professional body for accountants (Ordre des Experts-Comptables – OEC) launched its annual congress with 4,800 delegates in attendance, it is the OEC’s 72nd congress and this year the focus is on advisory.

    read more

    Non-financial reporting: the delayed revolution

    The now old debate about non-financial reporting has become more pressing for European accountants and firms, since the European Commission adopted guidelines specifically on this in June. Though the guidelines are not binding now, larger companies will have to comply with them by 2018. The aim is to allow investors as well as the wider public to compare data about social and environmental responsibility of the businesses they are investing in or supporting.

    read more

    Editor's letter: Big four, Big spin

    Tourists roaming the South African national parks generally have stars in their eyes at the mention of the Big Five. In safari terms, the Big Five are the poster boys of tour operators: the lion, the elephant, the Cape buffalo, the leopard and the rhinoceros. The term Big Five originates from hunting; those five animals were considered the hardest to hunt on foot in Africa.

    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.