ENFORCEMENT RULES OF THE CERTIFIED PUBLIC ACCOUNTANT ACT
Wholly Amended by Ordinance of the Prime Minister No. 626, Apr. 10, 1997
Amended by Ordinance of the Prime Minister No. 222, Aug. 31, 2001
Ordinance of the Prime Minister No. 373, Apr. 1, 2004
Ordinance of the Prime Minister No. 496, Mar. 10, 2006
Ordinance of the Prime Minister No. 512, Jul. 5, 2006
Ordinance of the Prime Minister No. 875, Mar. 3, 2008
Ordinance of the Prime Minister No. 956, jun. 30, 2011
The purpose of these Rules is to provide for matters delegated by the Certified Public Accountant Act and its Enforcement Decree as well as for those necessary for the enforcement thereof. <Amended by Ordinance of the Ministry of Finance and Economy No. 496, Mar. 10, 2006>
| Article 2 (Application Forms and Fees for Attempting Examination) |
| (1) | A person who wishes to attempt a CPA examination (hereinafter referred to as "candidate") under Article 5 of the Certified Public Accountant Act (hereinafter referred to as the "Act") shall submit an application form prescribed by the Chairperson of the examination board (hereinafter referred to as "Chairperson") under Article 6 of the Enforcement Decree of the Certified Public Accountant Act (hereinafter referred to as the "Decree") and the following documents to the Chairperson: <Amended by Ordinance of the Ministry of Finance and Economy No. No. 373, Apr. 1, 2004; Ordinance of the Ministry of Finance and Economy No. 496, Mar. 10, 2006> |
| 1. | A record of test under Article 2 (4) of the Decree (limited to the primary examination; hereinafter the same shall apply); |
| 2. | A document attesting the qualification for taking an examination under Article 2-2 (4) of the Decree. |
| (2) | A person who intends to be exempt from the primary examination under Article 6 (1) of the Act shall submit the following documents to the Chairperson: <Newly Inserted by Ordinance of the Ministry of Finance and Economy No. No. 373, Apr. 1, 2004; Ordinance of the Ministry of Finance and Economy No. 496, Mar. 10, 2006> |
| 1. | One copy of a certificate of career; |
| 2. | One copy of the provisions concerning the organization and job description of an institution with which the relevant person is affiliated. |
| (3) | Each candidate shall submit the documents referred to in paragraphs (1) and (2), as publicly announced by the Chairperson after undergoing deliberation by the examination board, and the documents submitted by candidates shall not be returned. <Amended by Ordinance of the Ministry of Finance and Economy No. 496, Mar. 10, 2006> |
| (4) | "Amount set out in Ordinance of the Prime Minister" in Article 7 (1) of the Decree means 50 thousand won. <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001; Ordinance of the Ministry of Finance and Economy No. No. 373, Apr. 1, 2004; Ordinance of the Prime Minister No. 875, Mar. 3, 2008> |
| Article 2-2 (Certificate of Acquiring Credits) |
Certificates of acquiring credits under Article 2-2 (3) of the Decree shall be as shown in annexed Form 19. [This Article Newly Inserted by Ordinance of the Ministry of Finance and Economy No. No. 373, Apr. 1, 2004]
| Article 3 (Verification Slips for Examination) |
When the Chairperson receives an application form for examination under Article 2 (1), he/she shall record such fact on the receipt ledger shown in annexed Form 1 and deliver a verification slip to the relevant candidate for examination.
| Article 4 (Passing Certificates and Delivery Roster thereof) |
The Financial Services Commission shall deliver passing certificates shown in annexed Form 2 to candidates who pass the secondary examination, and shall record such fact on a delivery roster of passing certificates shown in annexed Form 3. <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001; Ordinance of the Prime Minister No. 875, Mar. 3, 2008>
| Article 5 (Applications for Registration) |
Any person who intends to register as a certified public accountant under Article 7 (1) of the Act shall submit an application for registration of a certified public accountant shown in annexed Form 4 to the Financial Services Commission, attaching the following documents thereto: <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001; Ordinance of the Prime Minister No. 875, Mar. 3, 2008> | 1. | A copy of passing certificate; |
| 2. | A statement certifying the completion of training (excluding any person falling under any subparagraph of Article 6 (1) of the Act); |
| 4. | Three identical passport-sized photographs. |
| Article 6 (Certified Public Accountants Register) |
A certified public accountants register under Article 10 (2) of the Decree shall be as shown in annexed Form 5.
| Article 7 (Registration Certificate) |
A registration certificate under Article 10 (2) of the Decree shall be as shown in annexed From No. 6.
| Article 8 (Reporting on Change in Registered Matters) |
Reporting on change in registered matters under Article 10 (3) of the Decree shall be filed by a written report shown in annexed Form 7, attaching thereto documents evidencing such change.
| Article 9 (Application for Renewal of Registration) |
An application for the renewal of registration of a certified public accountant under Article 11 (2) of the Decree shall be filed by an application form shown in annexed Form 8, attaching thereto the following documents: | 2. | Two identical passport-sized photographs. |
[This Article Wholly Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001]
| Article 10 Deleted.<by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001> |
| Article 11 (Representative Directors of Accounting Corporation) |
[This Article Wholly Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001]
| Article 12 (Application for Registration of Accounting Corporation) |
An application for registration of an accounting corporation under the main sentence of Article 15 (1) of the Decree shall be as shown in annexed Form 10. <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001>
| Article 13 (Certificates, etc. of Registration of Accounting Corporations) |
| (1) | A certificate of registration of an accounting corporation under Article 15 (2) of the Decree shall be as shown in annexed Form 11. <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001> |
| (2) | When an accounting corporation has made a registration, the Financial Services Commission shall record the matters on such registration on a register of accounting corporations shown in annexed Form 12. <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001; Ordinance of the Prime Minister No. 875, Mar. 3, 2008> |
| Article 14 (Notification, etc. of Grounds for Dissolution of Accounting Corporation) |
| (1) | An accounting corporation which intends to notify the occurrence of a ground for dissolution thereof pursuant to Article 37 (2) of the Act shall submit a notification shown in annexed Form 13 to the Financial Services Commission, attaching thereto the following documents: <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001; Ordinance of the Prime Minister No. 875, Mar. 3, 2008> |
| 1. | Deleted; <by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001> |
| 2. | A copy of the minutes of the general meeting; |
| 3. | A document certifying that it has deposited the reserve for compensation with the Korean Institute of Certified Public Accountants (excluding cases where it dissolves due to merger). |
| (2) | Deleted. <by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001> |
| (3) | A person who intends to report any modification to the articles of association under Article 38 of the Act shall file a report shown in annexed Form 15 to the Financial Services Commission, attaching thereto the following documents. In such cases, the Financial Services Commission shall verify a certified transcript of the relevant reporting person's corporate register through joint use of administrative information under Article 21 (1) of the Act on Promotion of the Digitalization of Administrative Affairs, etc. for Creation of Electronic Government, but if the relevant reporting person does not consent to such verification, he/she shall attach such certified transcript: <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001; Ordinance of the Ministry of Finance and Economy No. 512, Jul. 5, 2006; Ordinance of the Prime Minister No. 875, Mar. 3, 2008> |
| 1. | Each one copy of the former and new articles of incorporation; |
| 2. | Deleted; <by Ordinance of the Ministry of Finance and Economy No. 512, Jul. 5, 2006> |
| 3. | A copy of the minutes of the general meeting. |
| (2) | Deleted. <by Ordinance of the Ministry of Finance and Economy No. 512, Jul. 5, 2006> |
| Article 15 (Request for Disciplinary Decision) |
A request for disciplinary decision under Article 33 (1) of the Decree shall be made by a written request shown in annexed Form 16.
| Article 16 (Notification of Disciplinary Decision) |
Notification of disciplinary decision under Article 37 (1) of the Decree shall be made by a written notification shown in annexed Form 17. <Amended by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001>
| Article 16-2 (Application Form for Registration of Foreign Certified Public Accountants) |
The application form for registration of foreign certified public accountants referred to in Article 23-2 (1) of the Decree shall be as shown in annexed Form 20. [This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-3 (Roster of Foreign Certified Public Accountants) |
[This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-4 (Registration Certificate of Foreign Certified Public Accountants) |
The registration certificate of foreign certified public accountants referred to in Article 40-4 (3) of the Act shall be as shown in annexed Form 22. [This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-5 (Application Form for Renewal of Registration of Foreign Certified Public Accountants) |
The application form for the renewal of registration of foreign certified public accountants referred to in Article 23-3 of the Decree shall be as shown in annexed Form 23. [This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-6 (Application Form for Change of Registered Matters of Foreign Certified Public Accountants) |
The application form for the change of registered matters of foreign certified public accountants referred to in Article 23-2 (2) of the Decree shall be as shown in annexed Form 24. [This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-7 (Application Form for Registration of Foreign Accounting Corporations) |
The application form for registration of foreign accounting corporations referred to in Article 23-4 of the Decree shall be as shown in annexed Form 25. [This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-8 (Roster of Foreign Accounting Corporations) |
[This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-9 (Registration Certificate of Foreign Accounting Corporations) |
The registration certificate of foreign accounting corporations referred to in Article 40-7 (3) of the Act shall be as shown in annexed Form 27. [This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 16-10 (Submission of Business Reports, etc.) |
| (1) | Each foreign certified public accountant and foreign accounting corporation shall submit business reports referred to in Article 40-13 (1) of the Act, including the following matters therein: |
| 1. | Summary of the foreign accounting office, such as address and trade name; |
| 2. | Current state of the representative director, affiliated foreign certified public accountants and office workers of the foreign accounting office; |
| 3. | Financial statements of the foreign accounting office and statements annexed thereto; |
| 4. | Total amount of fees of the foreign accounting office by service for the last three business years; |
| 5. | A history of actions taken by the supervisory agency of the original qualification nation against the foreign certified public accountant in connection with his/her status, such as disciplinary actions as well as against the relevant foreign accounting corporation, such as the suspension of practice, for the last three years; |
| 6. | Current state of legal actions related to the practice of the foreign accounting corporation (including affiliated foreign certified public accountants) for the last three years; |
| 7. | Period of sojourn in Korea of the representative director and affiliated foreign certified public accountants of the foreign accounting office. |
| (2) | The form of business reports referred to in paragraph (1) shall be determined by the Korean Institute of Certified Public Accountants. |
| (3) | Any foreign accounting corporation and foreign certified public accountant may submit business reports referred to in paragraph (1) by means of electronic documents. |
[This Article Newly Inserted by Ordinance of the Prime Minister No. 956, Jun. 30, 2011]
| Article 17 (Extension, etc. of Deadline for Payment of Penalty Surcharges) |
A person who intends to get a deadline for payment of a penalty surcharge extended or to make an installment payment thereof under Article 40 (3) of the Decree shall submit a written application shown in annexed Form 18 to the Financial Services Commission, attaching thereto documents certifying a ground for applying the extension of such deadline for payment of a penalty surcharge or the installment payment thereof. <Amended by Ordinance of the Prime Minister No. 875, Mar. 3, 2008> [This Article Newly Inserted by Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001]
ADDENDA
| (1) | (Enforcement Date) These Rules shall enter into force on the date of their promulgation. |
ADDENDUM<Ordinance of the Ministry of Finance and Economy No. 222, Aug. 31, 2001>
These Rules shall enter into force on the date of their promulgation.
ADDENDUM<Ordinance of the Ministry of Finance and Economy No. 373, Apr. 1, 2004>
These Rules shall enter into force on the date of their promulgation.
ADDENDUM<Ordinance of the Ministry of Finance and Economy No. 496, Mar. 10, 2006>
These Rules shall enter into force on the date of their promulgation: Provided, That the amended provisions of Article 2 shall enter into force on January 1, 2007.
ADDENDUM<Ordinance of the Ministry of Finance and Economy No. 512, Jul. 5, 2006>
These Rules shall enter into force on the date of their promulgation.
ADDENDA<Ordinance of the Prime Minister No. 875, Mar. 3, 2008>
Article 1 (Enforcement Date)
These Rules shall enter into force on the date of their promulgation.
Articles 2 through 5 Omitted.
ADDENDUM<Ordinance of the Prime Minister No. 956, Jun. 30, 2011>
These Rules shall enter into force on the date on which the Free Trade Agreement between the Republic of Korea and the European Union and its Member States takes effect.