주식회사의 외부감사에 관한 법률에 있어서 과징금 도입의 문제점과 개선방안

Abstract

The Surcharge(Administrative fines) was introduced on legislative amendment notice of 「The Act on External Audit of Stock company」(‘the act on external audit’) to enhance the accounting transparency and fair audit. Surcharge is very effective and takes the advantages of suppression and prevention from illegal acts on audit engagement parties, but Surcharge did not be studied enough with regard to side effects. It is said that Surcharge prescribed in legislative amendment notice of the act on external audit, which has been added to already existed sanctions for non-listed companies and auditors, is excessive regulation. While capital market law, the act on external audit and the Certified Public accountant Act have established or is establishing the Surcharge, the relationship among three laws is not clear. Despite several sanctions are in the act on external audit and the Certified Public Accountant act, the authorities may impose fines on those sanctions. Even the criminal penalties may be also imposed and it is question that the relationship between criminal and Surcharge is obvious. Especially overseas, it is referred that monetary sanctions for non-listed companies and auditors are virtually rare and monetary sanctions have been developed in IPO and public disclosure. Even if the adminisrtative fines should be introduced to the act on external audit, it must be clarified that the relationship between the fines of capital market laws and Certified Public Accountants act. And we should review expanding the administrative fine in Capital Market Law. If effective and efficient monetary sanctions are more required on the amendments of the act on external audit, it is necessary to review carefully whether the fine for default, which is already provided in other laws, could be introduced. Rather it is required to activate the current financial and monetary sanctions. Unfortunately, because Surcharge introduced on legislative amendment notice of the act on external audit is not enough to be discussed and is controversial in its formality and substance. I think it is desirable to delete the Surcharge introduced.