「주식회사의 외부감사에 관한 법률」 개정안의 주요 규정에 대한 비판적 검토

As of July 2017, 10 kinds of proposed amendments to the Act on External Audit of Stock Companies (hereinafter “External Audit Act”) are submitted to the National Assembly. Among the various amendments, this Study deals with some key provisions of the proposed amendment by the government and the proposed amendment by Jong Seok Kim, the law maker. According to the government's proposed amendment, the External Audit Act will be applied to the yuhan hoesa. However, as long as the yuhan hoesa does not work in the capital market, the yuhan hoesa should be out of the regulation. The proposed amendment intends to apply sanctions against the representative director of the accounting company, but such kind of sanction will be in breach of the principle of self-responsibility. In addtion, the proposed amendment tries to levy gwajinggeum on the audited company. This imposition will be effective as a restraint on accounting fraud. However, the gwajinggeum should be also levied on the individuals who actively participated in accounting fraud. In the proposed amendment, Jong Seok Kim tries to extend the extinctive prescription of a claim for damages to 8 years and impose gwajinggeum on external auditors. However, the extension and the imposition will be a new burden on the external auditors.