View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 18, 2017updated 03 Jan 2021 5:41pm

Korean institute signs agreement with National Council of non-profit organisations

By Stephanie Wix

The Korean Institute of Certified Public Accountants (KICPA) and the National Council of non-profit organisations (NPOs) have signed a memorandum of understanding (MoU) to strengthen accountability and transparency in not for profit organisations.

As part of the MoU both organisations will work together to establish standards for external reporting of not for profit organisations, they will look at how to strengthen external audit for the largest NPOs. They will also launch a research project into law and regulations for the NPO’s financial management and reporting.

KICPA president Joong-Kyung Choi said: “To improve the participation in charitable giving, it is important to maintaining the transparency in financial management. We tried to make a protection system against potential irregularity in not-for profit organizations.”

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to International Accounting Bulletin