Accounting Transparency of Korean Companies Falling Short of Expectations

In a recent survey conducted by the Financial Supervisory Service, 674 certified public accountants, accounting professors and corporate executive members in accounting jobs rated Korean companies’ accounting transparency at 3.91 points on a scale of one to seven.

The score was 4.04 a year ago.

The 310 CEOs and CFOs gave 4.88 points on average, while the 291 public certified accountants’ average score was 2.96. The 73 professors rated it at 3.89 altogether.

The respondents gave 4.24 points, lower than a year earlier, regarding the appropriateness of external audits on the listed corporations.