Kitae is a partner of the PwC in Korea, based in Seoul.  He has 30 years of extensive experience in financial industry to assist Korean big companies in various areas including audit, IFRS implementation and accounting advisory. Kitae has a solid knowledge of IFRS and US GAAP and has extensive experience in assisting Korean companies raising capital overseas. He has spent two years in US (Los Angeles) from 1996~1997 for overseas experiences.

As a partner in Banking assurance group currently, He is responsible for all aspects of the services with respect to IFRS conversion, including but not limit to, assisting in overall project management, providing technical support for GAAP differences identification, IFRS conversion and financial statements disclosures, establishing new conversion business processes and designing the new IT system for conversion procedures., as well as evaluating and implementing new rules under IFRS.

The clients Kitae served include, but not limited to, Kookmin Bank, Shinhan financial group, Korea Telecom, LG Display all of which are SEC registrants, LG Electronics and LG U+.

Since the crisis, financial regulations the world over are being revised to ensure banks are more transparent and better able to deal with financial shocks. However there has been no corresponding drive to better manage government balance sheets for the long term, not least because very few governments would be able report on anything other than a cash basis. This demonstrates how urgently the quality of financial management in governments around the world needs sustained and well-designed reform, including those governments who have moved to adopt the accrual basis of reporting.

To address these issues, the Chartered Institute of Public Finance and Accountancy (CIPFA) is hosting its first ever International Seminar to highlight the importance of sound public financial management and reporting in a robust, transparent government accounting practice, in the public interest, and consider how the accountancy profession can play a role in addressing the quality of public sector financial management.

The seminar on July 7 in London will include global experts, highlighting relevant examples and initiatives that promote effective and efficient management of public finances, including:

• Fayezul Choudhury, IFAC CEO
• Paul Kazarian, Founder, Chairman and CEO, Japonica Partners
• Alta Prinsloo, Executive Director, Strategy, and Chief Operating Officer, IFAC
• Olivier Boutellis-Taft, Chief Executive, Federation of European Accountants
• Ian Ball, Chair, CIPFA International
• Mark Lowcock, Permanent Secretary, UK Department for International Development
• Fred Moore, Chief Executive Officer, Institute of Chartered Accountants of Ghana
• Chidi Ajaegbu, Past-President, Institute of Chartered Accountants of Nigeria

Additional information, including registration details, is available on the CIPFA website.

See IFAC CEO Fayez Choudhury discuss the Accountability. Now. campaign which represents a coalition of organizations that believe in the importance of enhancing the accountability and transparency of government financial management around the world.

IFAC President Olivia Kirtely was interviewed by the Huffington Post on women, leadership, and the accountancy profession.

Read the full article on the Huffington Post website.