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FRA broadcasts the institution of FRA Korea in Seoul
SEOUL, South Korea, Nov. 7, 2022 /PRNewswire/ — Forensic Threat Alliance (FRA), the main forensic accounting, information analytics and eDiscovery consultancy, broadcasts right this moment that it has established its first Asia Pacific workplace in Seoul, South Korea (“FRA Korea”), in collaboration with native companions who’re properly revered leaders of their market.
The launch of FRA Korea comes because the forensics and advisory market within the nation has grown significantly over the previous twenty years, largely pushed by growing enforcement efforts by the Korean authorities.
This shift in strategy will be attributed to the election of a brand new President, Suk-yeol Yoon, with a robust anti-corruption stance, growing publicity of Korean firms to US regulatory requirements and a rising demand for options to the Massive 4 within the forensic area.
The agency’s resolution to determine a bodily presence in Korea comes simply months after it opened an workplace in Dubai, additional demonstrating its dedication to its worldwide enlargement and diversification technique.
On the helm of FRA Korea can be managing accomplice Ui-sung Kim and accomplice Hea-sil Chang taking lead on establishing the brand new workplace and delivering consumer service excellence. Younger-gak “Ken” Yun will present strategic course in his capability as senior advisor.
With the total help of FRA’s world crew, these companions can be chargeable for rolling out the agency’s full-service providing and breadth of experience to firms, government-related entities, monetary establishments and bringing to bear their counsel throughout a spread of areas reminiscent of sanctions, bribery and corruption, anti-money laundering, and compliance.
Ui-sung Kim – FRA Korea’s managing accomplice – was beforehand Founder and CEO at software program firm Magicsoft Inc. Previous to this, he labored at KPMG Korea for 14 years, the place he was latterly Chief Info Officer and Accomplice main the tax expertise crew.
Accomplice Hea-sil Chang brings regulatory expertise to the FRA Korea management crew on the bottom. She joins FRA Korea after six years on the Supreme Prosecutors’ Workplace (SPO) of the Republic of Korea, the place she served as head of accounting evaluation within the Anti-Corruption Coordination & Exterior Affairs Division.
Senior Advisor Younger-gak “Ken” Yun has greater than 20 years {of professional} providers expertise, having labored in funding and accounting companies. In 1990, he based Samjong Company, which subsequently turned a member agency of KPMG in Korea. He’s additionally founder and Group Chairman of Pavilion Funding Group.
Frances McLeod, co-founding Accomplice at FRA, stated: “We’re extremely excited to be launching an workplace in South Korea. It follows a number of years of high-profile work within the Asia Pacific area and is a vital strategic resolution for us as Korea experiences enormous financial progress and concurrent regulatory maturation. Younger-gak Yun, Ui-sung Kim, and Hea-sil Chang’s intensive management and mixed monetary providers expertise, in addition to their deep data of the home market, will give our purchasers invaluable perception when navigating difficult regulatory proceedings. We’re thrilled to have them on board and main this new enterprise.”
Toby Duthie, co-founding Accomplice and Managing Accomplice at FRA, stated: “Establishing a bodily footprint in Korea is a incredible alternative for the agency to proceed to develop its multinational presence, and won’t solely elevate our consumer service providing, but additionally present alternatives for us to share our organisational tradition throughout a number of continents.”
Younger-gak “Ken” Yun (윤영각), Senior Advisor of FRA Korea, stated: “Korea has quickly turn into the world’s tenth largest financial system, however that progress comes with a darkish aspect. I’ve issues about current embezzlement and cash laundering circumstances in Korea, particularly their varieties, frequency and scale. Such corruption is turning into extra subtle and tough to detect by conventional accounting audit. I believe it is time for us to implement extra superior forensic threat administration methods to make our society extra clear and clear. I’m positive that FRA’s superior expertise and applied sciences in these areas with assist us work with purchasers to work in the direction of resolving such points in our society.”
Ui-sung Kim (김의성), Managing Accomplice of FRA Korea, stated: “I’m more than happy to have an opportunity to introduce FRA’s superior forensic applied sciences and experience to Korean companies. Specifically, I’m assured that our capabilities with machine studying and high-volume information evaluation will assist fast-growing and multinational Korean firms to evaluation thousands and thousands of paperwork in a value efficient, safe and environment friendly method, whereas minimizing information privateness and safety dangers.”
Hea-sil Chang (장혜실), Accomplice of FRA Korea, stated: “Korea has very distinctive forensic accounting rules. The ‘Act on Exterior Audit of Inventory’, for instance, requires that an organization’s audit committee, upon being notified by exterior auditors of a violation of accounting requirements, ought to appoint an exterior professional to analyze the violation. Nevertheless, the appointment of accounting companies to analyze these violations has consistently raised questions on independence. I’m very excited for FRA Korea to supply a reputable various to the Massive 4 accounting companies, assuring Korean corporations of high quality, unbiased forensic accounting recommendation with out having to fret about conflicts of curiosity.”
About FRA
Forensic Threat Alliance (FRA), is a forensic accounting, e-discovery, information governance and compliance consultancy agency, specializing in worldwide corruption, sanctions, AML and all kinds of monetary and accounting fraud investigations for main world firms and legislation companies. For greater than 20 years, FRA has provided intensive multi-jurisdictional information privateness, switch, and safety experience in an effort to assist purchasers obtain their goals with compliance, litigation and investigations. With round 200 workers, FRA is headquartered in London and Washington DC, with 10 extra workplaces throughout EMEA and the US. FRA has intensive cross-sector and cross-border expertise and scalability wherever on the planet with globally built-in groups throughout each developed economies and rising markets, having labored in additional than 100 nations with the potential to talk over 35 languages.
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SOURCE Forensic Threat Alliance (FRA)
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