KCGS, 고려아연 감사위원에 박유경 후보 찬성 권고

The Korean Institute of Certified Public Accountants (KCGS) has issued a recommendation on the selection of the auditor for the temporary board of directors of Kyung-Ah Enterprises (KAE). The organization advised in favor of candidate Park Yu-kyung, who is recommended by the company's business partner, while advising against the other candidate, Bai In-gyu, recommended by KAE's board of directors.

The KCGS's rationale for this recommendation centers on the candidates' accounting and auditing expertise, as well as their ability to ensure that the company's funds are used in the best interests of shareholders and that no conflicts of interest exist between management and shareholders. The KCGS specifically scrutinized recent corporate actions, including Chairman Lee's investments in his own fund, the acquisition of Ignio Holdings, and a large equity financing round.

The KCGS also reviewed the current auditor's performance, noting that they approved a large equity financing plan despite concerns about potential breaches of shareholder rights. They cautioned that external investigations, such as those by the Prosecutor's Office or financial regulators, would not excuse the internal auditor's failure to monitor and rectify any issues.

The KCGS's recommendation against Bai In-gyu is based on his perceived lack of independence, given his roles as a senior executive at the Korean Deal Group and a director of KCGS Center. The KCGS noted that this potential conflict of interest could impact the auditor's ability to assess whether KAE's management decisions align with shareholder value.

In contrast, the KCGS praised Park Yu-kyung's extensive experience in evaluating the financial health and investment strategies of major companies at a global asset management firm, as well as her extensive experience in overseeing investment implementation and corporate governance issues. They concluded that Park's ability to maintain a separation from management influence makes her a more suitable candidate for the auditor role.