우리나라 경제발전과 회계의 공헌과 과제(특별기고논문)

Abstract

This study provides a historic review of the development of accounting in Korea for the past 50 years during which economic development has been successfully accomplished. This review is meaningful in that we could identify both the role of accounting in the development of capital market and the contribution of accounting profession in each stage of the economic development. Our review shows that the accounting profession has significantly contributed to economic development by formulating and revising the accounting and auditing systems appropriately in each stage, whenever necessary to meet the change of economic systems. Especially, the Korean Institute of Certified Public Accountants has made a significant contribution not only by participating in the development of accounting and auditing systems but also by providing various accounting services to corporations, government, and other organizations. The response of the accounting profession can be explained by Toynbee's challenge and response. As the Korean accounting profession responded appropriately to the challenge in the past, it should be ready for the future economic systems. That is, the profession should keep providing high-quality accounting and audit service to meet high expectations of users, maintaining a sufficient level of professional ethics. This study has implications to the role of accounting in economic development in developing countries and provides insights into the future task of accounting profession in the new economy.