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Category Archives: Audit in Korea
Check the 2026 external audit requirements in Korea, including asset, revenue, liability, employee and limited-company thresholds.
In South Korea, companies are required to undergo external audits to enhance transparency and ensure responsible management practices. External audits involve an independent review of a company’s financial condition and operational activities, with the audit report prepared in accordance with the External Audit Act. This blog explores the criteria for companies subject to external audit […]
Sometimes we are asked for financial review services Korea. Unlike audits, financial reviews require much simpler procedures and can take less time than audits. 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. Key […]
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 […]