The Korean Institute of Certified Public
Accountants (KICPA) will provide accounting counselling to a series
of non-profit organisations to help enhance their financial
transparency.
KICPA president Ouhyung Kwon said a lack of
accounting transparency within non-profit organisations has limited
the growth of the donation culture in Korea.
“This initiative will contribute to
strengthening the non-profit sector as a whole by promoting its
efficient accounting treatment and contributing to fostering the
culture of giving,” Kwon said.
At present, 25 non-profit organisations have
entered memorandums of understanding with the KICPA and more are
expected to sign up.
