법무법인(유한) 율촌 | Yulchon LLC

With growing demand for transparency in accounting, violation of accounting standards often lead to administrative sanctions, damages claims and criminal penalties for the management and public accountants, which may threaten the very existence of companies and accounting firms. Under the current "principle-based" accounting standards that provide for abstract principles without much detail, accounting presents constant risk for disputes. Even with the best internal control measures, accounting fraud by employees and officers cannot be fully prevented. To deal with legal issues that arise from accounting & audits effectively, it is necessary to seek assistance of professionals with expertise in accounting standards and practices, ability to analyze transactions subject to accounting treatment and in-depth knowledge in accounting fraud investigations. Yulchon has a team of professionals with such expertise and abundant experience in these areas. The Team provides optimal solutions to legal issues that companies and accounting firms encounter, including: (i) accounting fraud investigations (including conducting necessary forensics and interviews); (ii) audit reviews by the authorities; (iii) listing requirements review; (iv) response to police or prosecutors’ investigation of accounting fraud; and (v) representation in civil, criminal and administrative lawsuits.