공공기관의 회계투명성 제고에 관한 연구: 한국자산관리공사와 새출발기금 사례를 중심으로

This study examines the financial reporting and disclosure practices of public institutions by analyzing the case of the Korea Asset Management Corporation (KAMCO) and the debt adjustment program for small business (the Newstart Fund) operated by KAMCO. When the Newstart Fund was established in 2022, KAMCO included it in its consolidated financial statements. However, in the following year (2023), the fund was excluded from the scope of consolidation based on the assessment that KAMCO does not exercise substantive control over it. Nevertheless, in the same year, transactions between KAMCO and the fund were disclosed as related-party transactions in the notes. In addition, the fund's separately audited financial statements are available to the public via the open-access financial disclosure system (DART). By offering more specific and transparent information than the consolidation-based approach, this practices have contributed to greater understandability and reliability for information users. By analyzing a specific case of financial disclosure in the public sector, this study offers practical insights into how consolidation scope and related-party transactions are applied in practice, thereby contributing to the theoretical discourse on public sector accounting. The case also suggests policy considerations for improving financial reporting practices.