Sometimes we are asked for financial review from our clients. Unlike audit, review requires much simpler procedures and could take less time than the audit. A review includes primarily applying analytical procedures to management’s financial data. You may expect that a CPA review will address if the financial data are free from any material misstatements. […]
Category Archives: Audit
In Korea, companies (whether a stock company and/or a LLC) with certain size or transaction volumes are subject to external audit. External audit can only be performed by public accounting firms in Korea. The scale of business for external audit is fully described in the law of ENFORCEMENT DECREE OF THE ACT ON EXTERNAL AUDIT […]
Under the current Act and its Enforcement Decree, the mandatory (external) audit requirements apply to the below companies in Korea: Listed in Korea; or Total asset exceeds KRW 12 billion; or Total asset and liability exceed KRW 7 billion; or The number of employees is over 300 and total asset exceeds KRW 7 billion It’s […]