기업의 회계투명성 제고에 관한 연구- OCI 사례를 중심으로 -

A level of accounting transparency of Korean firms is recognized as a hindrance factor of national competitiveness. Though there have been many initiatives to improve accounting systems and auditing practices(i.e. audit review of supervisory authorities, introduction of class action concerning stock, and enhancing system of external auditor independence) since the IMF crisis in 1997, the practices are not still perceived to be satisfactory. The companies also began to pay attention to the International Financial Reporting Standard(IFRS) and the listed companies of Korea should adopt the K-IFRS as accounting principles from 2011. Korea is not rated as a transparent country in accounting. But adopting K-IFRS will boost the country’s transparency in accounting and will be able to improve the Korea Discount. This case study introduced the accounting and operating status of OCI and suggests the ways of enhancing accounting transparency. To ensure the transparency of accounting, companies must emphasize the importance of full disclosure that result in trust improvement with interesting group. Companies also must promote transparent and ethical management and strive to corporate social responsibility. It is necessary to consider a point of view that the enhancing accounting transparency of companies is a investment, not an expense. Companies will be able to generate Korea Premium by ensuring the accounting transparency through internal control and accounting practices.