국제회계기준의 채택과 기업법제의 대응

In the global market, rapid and tremendous changes have been made in the convergence of accounting standards between the International Financial Reporting Standards (IFRS) and the generally accepted accounting principles(GAAP). In 2007, we decided to adopt the IFRS and have long promoted the development of a single set of high-quality, globally accepted accounting standards and in 2011 execute a K-IFRS. The introduction of the International Financial Reporting Standards(IFRS)causes changes not only to the domestic accounting regulations, but also to the legal areas related to accounting such as the commercial and external auditing laws. The legal issues that can take place in the process of interpreting and applying the IFRS. First, although the legal status of IFRS isn't the same from the past, there are limitations with judging the legal nature of the increasingly unified international standards according to our own legal system. If it's the dominant trend to accept GAAP in the accounting－related fields, there is a need to accept it. Second, ISAB recognizes the power to direct activities without a majority of the voting rights, so-called 'de-facto control'. It means when assessing control, a reporting entity considers all relevant facts and circumstances indicators of power to direct the activities of an entity without governing the voting rights. This paper examines what de-facto control and how match with laws. After then, it discusses the ways to improve the auditing efficiency with reducing the auditor's liability.