PwC Korea leader appointed to new accounting education panel

27 August 2019 3 min. read

The International Federation of Accountants has appointed PwC Korea’s Choi Dhal to its new International Panel on Accountancy Education.

Following a nomination call-out in March, the International Federation of Accountants (IFAC) has appointed Choi Dhal – current head of PwC Korea’s (Samil PwC, the largest of the local Big Four) education department – to its International Panel on Accountancy Education, which, in response to “the challenges of a rapidly changing environment”, replaced the former International Accounting Education Standards Board (IAESB) at the beginning of last month.

“Global business, technology and education imperatives are placing new demands on the profession, and we must anticipate and prepare for the future,” said IAESB Deputy Chair Anne-Marie Vitale on the initial reform announcement. “We will work with key stakeholders to develop a model that considers, addresses, and advances the needs of current and future accountants and acts in the public interest to progress a robust and relevant accountancy profession.”

Then IAESB Chair, Chris Austin, added; “Whilst the IAESB has made good progress in improving the quality and relevance of the IES and support material, a different model that combines standards development, capacity support, better leveraging the work of professional accountancy organisations, and monitoring compliance will have a bigger impact on the quality of accountancy education and hence on the profession. That will be in everyone’s best interest.”

Choi Dhal, IFAC

Choi will as of next month join twenty-one other key executives and leaders from the global accountancy space on the newly launched panel (IPAE), including seven from the Asia Pacific and ASEAN’s only representative; long-time educator and Institute of Singapore Chartered Accountants (ISCA) member Chan Yoke Kai. According to a report in the Korea Times, Choi was recognised for her “excellent understanding and knowledge about a broad range of accountancy practices.”

“Advancing accountancy education is integral to IFAC’s vision,” the organisation, which represents almost 3 million accountants worldwide, stated in its original nomination call.  “Competent and credible professional accountants, committed to lifelong learning, underpin this vision. To remain relevant in an environment of rapid change, professional accountants increasingly must demonstrate skills beyond today’s typically-recognised accountancy competencies.”

The Korea Times, citing IFAC member the Korean Institute of Certified Public Accountants (KICPA, which represents some 17,000 CPAs in the country) stated that Choi will serve a four-year term with eligibility for reappointment based on performance, while further noting that she is the first among more than 4,000 female Korean CPAs to become a member of the international body. “This is an honor for the Korean accountant circle,” a KICPA official is quoted as saying.

Choi will however follow in the footsteps of other PwC Korea colleagues who have served on the IAESB, including former long-term assurance partner Yeong Kyun Ahn and fellow PwC assurance partner Seon Yeong Oh, who has served as a technical advisor to Yeong Kyun Ahn. According to KICPA data, PwC Korea had over 2,000 registered accountants as of the end of last year, more than or close to double Deloitte and EY and well ahead of KPMG.