IFRS 도입에 따른 감사보고서 감리제도 운영방안

The purpose of this study is to suggest an effective and reliable audit report review system to the Financial Supervisory Service (FSS) following the adoption of International Financial Reporting Standards (IFRS) in Korea. This study provides an overview of the changes in the enforcement of financial reporting requirements and recent state of enforcement activities in the United Kingdom, Australia, Germany and France following adoption of IFRS. This study also analyzes the influence of IFRS adoption on the audit report review system of Korea and proposes ways to improve the enforcement of IFRS adopted financial statements. Professional judgement is particularly important in the principles-based IFRS. Choosing the best suited financial reporting standard based on professional judgement and disclosing sufficient information are key to improving the quality of accounting information. Participants in the financial market assess the quality of accounting information. Thus, the market-oriented enforcement is necessary to cope with such accounting and disclosure environment effectively and to strengthen international consistency. To achieve this, it is necessary to make up for current proactive approach, and review panels should be appointed as a way to assist enforcement decisions process of the FSS. The FSS should lead improvement of disclosure in accounting controversy through market self-control. The FSS could use this study as a useful reference for setting an early response strategy and supervisory policy for a successful IFRS adoption.