외부감사인의 민사책임 제도와 관련한 본질적 문제점 및 향후 개선 방향

This paper examines the legal framework and circumstances sur- rounding Korean companies and investment, as well as the objective capabilities of Korean external auditors. It aims to analyze whether standards for a balanced scope of civil liability should be established and implemented in relation to the authority of external auditors. This is because determining the appropriate scope of liability requires the principles of proportionality and equity in relation to the authority granted. However, even after the introduction of the proportional liability system in 2013, concerns have persisted that the respon- sibilities of external auditors in Korea are inherently excessive compared to their authority. This paper provides an overview of the current external auditing system (II), identifies the fundamental problems that underlie the imbalance between the authority and responsibility of external auditors under the law (III), and proposes specific directions for legal improvement (IV). Finally, the paper concludes with a condensed conclusion (V). This paper demonstrates that Korea's civil liability system for external auditors is excessively strict compared to global standards, and that the scope and burden of liability are unreasonably expanded. As external auditors' responsibilities become increasingly stringent, this could lead to a vicious cycle of exodus by talented accounting professionals, reduced audit fees, and audit avoidance. This could escalate to a worst-case scenario where the very foundation of trust that underpins the capital market collapses. While the External Audit Act was comprehensively revised in 2018, even as of 2025, it remains biased towards unconditional investor protection and one-sided regulation of external auditors, rather than a balanced approach to investor protection and external auditor responsibility. This bias, in turn, fails to meet the persistent expectation of easing the strict civil liability laws for external auditors. Thus, mid- to long-term institutional improvements are necessary to rationally limit external auditors' liability, strengthen the calculation of damages, effectively apply proportional liability, and strengthen their oversight role within corporate governance. At that time, trust in the capital market will be enhanced and accounting transparency will be secured, ultimately improving the quality of the accounting market and preventing widespread moral hazard among investors, thereby realizing the recovery and normalization of the capital market.