원칙중심회계하에서 법적이슈에 관한 연구 : 대심제 적용과 고의판단을 중심으로

This study investigates the legal issues in applying the principle-based accounting standards which permit considerable discretion to best reflect the economic substance in recording accounting transactions. More specifically, we study two legal issues related to principle-based accounting standards - the application of the adversarial system and making a distinction between intention and negligence under the principle-based accounting system. After analyzing the current domestic regulatory and legal systems, we made the following conclusions. First, it is necessary to strictly employ the adversarial system in accounting supervision since there would be more managerial judgments under the principle-based accounting system. It is also necessary to provide the defendant with more detailed documents discussing reasons and related evidence in making disciplinary decisions. We suggest establishing the accounting tribunal for the litigations associated with the violation of accounting standards to enhance their expertise in the administrative court system. Second, the principle-based accounting standards appear to be in violation of the principle of delegated legislation. It is recommended that the regulator should provide the guidelines of requirements for legal enforcement. The accounting discretion allowed in the principle-based accounting system is not as clear as the rule violations under rule-based accounting system and should be judged by experts in accounting. In addition, the judgment of whether the act is with intent or negligence should follow the determination of violating the accounting principles. Finally, criminal prosecution and criminal punishment associated with accounting fraud should be made with more care.