재무이사(CFO)의 법률적 지위와 책임

The Chief Financial Officer (CFO) is not a defined term under Korean law. However, the term ‘CFO’ is widely being used in the capital markets, professional communities, and even amongst educated general population. On the other hand, the Korean Securities and Exchange Act and the CPA Law envisage the status of the CFOs and regulate CFOs’ activities without officially using the term CFO. One of the reasons for this may be that a designation such as CFO does not have room in the Korean law because it is in the English language. This Article proposes to amend the relevant laws by introducing the new term “Financial Officer.” This article argues that the amendment would create efficiency in the regulation of corporate governance and capital markets through comparative discussions on the US laws and regulations regarding corporate governance and capital markets. It also suggests that the duties and liabilities of CFOs in large Korean companies are excessive under current laws and those of the Financial Officer should be limited by the proposed amendment.