재무이사(CFO)의 법률적 지위와 책임

Abstract

The Chief Financial Officer (CFO) is not a defined term under Korean law.

However, the term CFO is widely being used in the capital markets,

professional communities, and even amongst educated general population. On the

other hand, the Korean Securities and Exchange Act and the CPA Law envisage

the status of the CFOs and regulate CFOs activities without officially using the

term CFO. One of the reasons for this may be that a designation such as CFO

does not have room in the Korean law because it is in the English language.

This Article proposes to amend the relevant laws by introducing the new term

Financial Officer. This article argues that the amendment would create

efficiency in the regulation of corporate governance and capital markets through

comparative discussions on the US laws and regulations regarding corporate

governance and capital markets. It also suggests that the duties and liabilities of

CFOs in large Korean companies are excessive under current laws and those of

the Financial Officer should be limited by the proposed amendment.