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The standard audit time to be applied to external audits from 2025 to 2027 has been finalized – Unanimously decided by the Standard Audit Time Deliberation Committee after sufficient discussion in the accounting and business sectors

News Corporate Finance & M&A General Updates
Date: 4th Dec, 2024 Source: Financial Services Commission Country: South Korea Original Source

Brief

On "04/12/2024", the "Financial Services Commission" issued an update regarding "The standard audit time to be applied to external audits from 2025 to 2027 has been finalized - Unanimously decided by the Standard Audit Time Deliberation Committee after sufficient discussion in the accounting and business sectors". The updated standard audit times take into account the burden on small and medium-sized enterprises, considering factors such as company size and financial statements.

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Financial Services Commission

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