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May 12, 2010

KICPA enhances transparency in charities

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.

 

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