The Korea Accounting Institute (KAI, Chair: Eui-Hyung Kim) held its board of directors meeting on 20 February 2019 and announced the appointment of a new non-standing member of the Korea Accounting Standards Board (KASB):
Partner, Samil PricewaterhouseCoopers
The appointment will fill the vacant position that will arise on 28 February 2019 when Kilwoo Lee (Partner/NPPD, Deloitte Anjin LLC) retires as board member.
The newly appointed board member will set, revise, and interpret Korean accounting standards during his 3-year term. Career and academic backgrounds of the new board member are as follows:
Name Kyung-Ho Lee
Company Samil PricewaterhouseCoopers
BA, Business Administration, Yonsei University
Career in Accounting Profession
Chairperson of the KICPA Research Committee for Accounting Principles
Member of K-IFRS Q&A Committee
IFRS Leader of Samil PricewaterhouseCoopers
About the KASB
The KASB is an independent private organization established on 1 September 1999 with the mission to set and revise accounting standards in Korea. The Board is committed to enhancing the quality of financial reporting by providing high quality accounting standards that are on a par with internationally accepted accounting standards. The KASB consists of 9 board members (2 of whom are full-time) who are professionals from the private sector.
About the KAI
The Korea Accounting Institute (KAI) was established as an umbrella organization of the KASB.