The Korea Financial Supervisory Authority plans to focus on examining the appropriateness of accounting for virtual assets this year, focusing on companies that issue virtual assets, holding companies, and exchanges.
They will review accounting issues such as revenue recognition, valuation of non-negotiable assets, related party transactions and virtual assets. The Financial Supervisory Service stressed the need to ensure that accounting practices for virtual assets are correct, and distribution companies must record relevant information in detail. Target companies will be selected for a centralized review next year.
South Korea's Financial Supervisory Authority plans to focus on inspecting virtual asset accounting this year
2024-06-13 10:08:10
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