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Strengthening Auditor Independence: Reestablishing Audits As Control And Premium Signaling Mechanisms, Sean M. O'Connor
Strengthening Auditor Independence: Reestablishing Audits As Control And Premium Signaling Mechanisms, Sean M. O'Connor
Washington Law Review
As recent scandals have demonstrated, ensuring the independence of auditors from the publicly traded clients whose books they inspect is one of the most vexing problems in the financial world today. Arguably, the imposition of a mandatory audit system through the 1930s federal securities laws created the modem problem of auditor independence. The core issue is that the statutory audit is simply a commodified cost of doing business for issuers that imposes an impossible obligation to serve an unspecified "investing public" on the auditors. Yet, this investing public neither hires, fires, nor controls the auditors. Instead, the audit relationship is …
The Current State Of Equity Investments By Foreign Funds [In South Korea] And Related Legal Issues, Hee Chul Kang, Eugene Kim
The Current State Of Equity Investments By Foreign Funds [In South Korea] And Related Legal Issues, Hee Chul Kang, Eugene Kim
Washington International Law Journal
On September 15, 2004, the South Korean press gave extensive news coverage to a series of private individual “Question & Answer” session meetings which the Capital Group Companies Fund (“Capital Group”) held with many of the top chief executive officers (“CEOs”) of major Korean corporations. Known worldwide as a top U.S. private equity management company, the Capital Group is currently the largest institutional investor in South Korea. As a major shareholder of large corporations such as Samsung Electronics, the Shin Han Financial Group, SK Group, and Hyundai Motors, the U.S. investment firm invited their CEOs to address questions and seek …