내부회계관리제도 운영 실패 관련 사례연구: O사의 횡령사건을 중심으로

[Purpose]This study presents a case of operational failure in the domestic internal accounting control system centered around the recent embezzlement case at Osstem Implant, and comprehensively examines the impact of embezzlement on financial reporting. [Methodology]The study reviewed the overview of the internal accounting control system, presented a summary of the embezzlement case at Osstem Implant, and compared the operation of the internal accounting control system at Osstem Implant prior to the embezzlement incident with that of a comparative company, Dentium. [Findings]The study found that the operation of the internal accounting control system at Osstem Implant before the embezzlement was significantly inferior compared to other companies in the same industry. Specifically, the size and independence of the board, and the professionalism of the staff responsible for internal accounting were insufficient compared to the comparison company, confirming that Osstem Implant failed to operate an effective internal control system. [Implications]As internal control is a system built by companies to self－assess and manage risks, it can inevitably vary depending on the industry, size, and structure. Therefore, the effective operation of the internal accounting control system may have limitations with just the review or audit by external auditors, and ultimately depends on the attitudes of the managers and employees. The review of the case in this study is thought to be helpful for companies that wish to effectively operate the internal accounting control system.