ENFORCEMENT DECREE OF THE FINANCIAL INVESTMENT SERVICES AND CAPITAL MARKETS ACT
CHAPTER III LISTED CORPORATION'S BUSINESS REPORTS
조문단위인쇄
| Article 170 (Descriptions and Accompanying Documents of Half-yearly and Quarterly Reports) |
| (1) | Article 168 (1) through (4) (paragraph (4) shall apply only to corporations obligated to prepare consolidated financial statements to which the international accounting principles adopted by the Republic of Korea are applicable) shall apply mutatis mutandis to matters that shall be stated in half-yearly and quarterly reports: <Amended on Aug. 27, 2013; Dec. 9, 2021> |
| 1. | In cases of a half-yearly report, it may be substituted by the following verification and comment of an auditor: |
| (a) | Where the corporation is obligated to prepare consolidated financial statements to which the international accounting principles adopted by the Republic of Korea are applicable: The auditor's verification and comment on the financial statements of the corporation and his or her verification and comment on the consolidated financial statements; |
| (b) | Corporation other than those falling under item (a): The auditor's verification and comment on the financial statements of the corporation; |
| 2. | In cases of a quarterly report, the auditor's audit opinion may be omitted: Provided, That subparagraph 1 shall apply to each quarterly report of a financial institution (referring to an institution subject to inspection under Article 38 of the Act on the Establishment of Financial Services Commission) or a stock-listed corporation whose total assets reach or exceed 500 billion won as at the end of the latest business year. |
| (2) | Where Article 168 (3) is applied mutatis mutandis pursuant to paragraph (1), supplementary statements under subparagraph 7 of that paragraph need not be stated; matters provided in subparagraphs 2 through 7 of that paragraph need not be stated in a quarterly report in accordance with the standards determined and publicly notified by the Financial Services Commission; and the audit opinions of an auditor under subparagraph 8 of that paragraph shall be given in compliance with the following standards: <Newly Inserted on Dec. 9, 2021> |
| 1. | In cases of a half-yearly report, it may be substituted by the following verification and comment of an auditor: |
| (a) | Where the corporation is obligated to prepare consolidated financial statements to which the international accounting principles adopted by the Republic of Korea are applicable: The auditor's verification and comment on the financial statements of the corporation and his or her verification and comment on the consolidated financial statements; |
| (b) | Corporation other than those falling under item (a): The auditor's verification and comment on the financial statements of the corporation; |
| 2. | In cases of a quarterly report, the auditor's audit opinion may be omitted: Provided, That subparagraph 1 shall apply to each quarterly report of a financial institution (referring to an institution subject to inspection under Article 38 of the Act on the Establishment of Financial Services Commission) or a stock-listed corporation whose total assets reach or exceed 500 billion won as at the end of the latest business year. |
| (3) | Each half-yearly and quarterly report shall be accompanied by the following documents: <Amended on Dec. 9, 2021> |
| 1. | A half-yearly audit or review report prepared by the auditor in cases of a half-yearly report: Provided, That half-yearly audit or review reports prepared by the auditor on consolidated financial statements shall be submitted together with the report in cases of a corporation obligated to prepare consolidated financial statements to which the international accounting principles adopted by the Republic of Korea are applicable; |
| 2. | A quarterly audit or review report prepared by the auditor in cases of a quarterly report (applicable only to corporations under the proviso of paragraph (2) 2): Provided, That quarterly audit or review reports prepared by the auditor on consolidated financial statements shall be submitted together with the report in cases of a corporation obligated to prepare consolidated financial statements to which the international accounting principles adopted by the Republic of Korea are applicable. |