Thairath Online
Thairath Online

Exploring the Profession of Auditor Through the Korean Series The Auditors: Auditing to Close Corruption

Financial planning27 Jul 2024 10:00 GMT+7

Share

Exploring the Profession of Auditor Through the Korean Series The Auditors: Auditing to Close Corruption

They've done it again! With "The Auditors: Closing Corruption" an intense office-investigation series on tvN, exposing organizational corruption and eradicating all forms of fraud.

Starring the handsome veteran actor Shin Ha-kyun, who plays Shin Cha-il, a legendary financial auditor likened to a "reaper", who uncovers and punishes "dirty rats" feeding on corruption inside organizations, teaming up with the young and fresh-faced subordinate Lee Jung-ha, playing Goo Han-soo, together launching a fierce crackdown on fraud. The series sharply contrasts work and personal life, with six episodes currently available.

The storyline begins with exposing embezzlement by construction company manager Lee Eun, who forged company seals to siphon funds. Shin Cha-il later becomes head of the JU Construction audit team, motivated by a desire to catch corrupt culprits.

Previously, the audit team worked passively, so their first case involved tackling corruption in a tower crane collapse at Apartment Inpo. The accident was due not to weather but to buying used cranes while billing for new ones, causing substandard equipment and the accident. Other cases include union representatives' embezzlement and employee cafeteria fraud through inflated ingredient costs.

A vigorous stand against corruption!

According toNielsen Korea,the series' second episode on 7 July averaged a nationwide rating of 5.902%, up from 3.514% in the premiere, with an average Seoul rating of 6.523%, representing over 1.326 million TV viewers in Korea. The latest episode 4 ratings soared to 7.213%, with 1.686 million live viewers nationwide.

In reality, cases similar to the series exist, such as the historic fraud saga of Starc Corporation Public Company Limited (STARK), where accounting fraud caused stock prices to plummet and left the company unable to pay investors. One of the most discussed roles in this case was that of the "auditor" from the Big 4 firms.

Therefore, Thairath Money introduces the profession of "auditor," explaining their duties, salaries, and who the Big 4 are.

Generally, an "auditor" or Auditor, must be licensed. New graduates start as assistants. Auditors verify the accuracy of accounting according to standards, such as a company's financial statements, and must be licensed accountants.

In reality, auditing is not just about numbers; auditors must thoroughly understand the business and every related system.

A source in the auditing field told Thairath Money that auditing is a highly paid profession with growing salaries. Entry-level assistants earn 22,000-25,000 baht, while licensed auditors (CPAs) with experience earn from 30,000 baht up to six figures. Salaries at Big firms range from tens of thousands to six figures.

So, who are the Big 4?

The Big 4 are the world's four largest auditing firms, often hired by listed companies to enhance the credibility of their financial statements. These globally recognized firms are:

  • PricewaterhouseCoopers (PwC),
  • EY,
  • Deloitte Touche Tohmatsu (Deloitte),
  • and KPMG.

With only six episodes left, the series "The Auditors: Closing Corruption" is approaching its conclusion, promising potentially more intricate and clever portrayals of auditing.

It's undeniable that recent Korean series increasingly explore professional careers creatively and engagingly, such as Good Partner featuring a top divorce lawyer known for her excellent case win rate and methodical approach, Juvenile Justice focusing on a strict youth court judge upholding justice impartially amid complex cases, among others. We look forward to how the remaining episodes will present anti-corruption stories.

ReferencesTrue,,Korseries.

Follow financial information with ThairathMoney at
https://www.thairath.co.th/money/personal_finance

Follow the Facebook page: Thairath Money at this linkhttps://www.facebook.com/ThairathMoney