Abstract

This study gives implications on the local public enterprises’ preparation of the consolidated financial statements through analysing the case of quasi－government agencies’s adoption of KIFRS. This study addresses the necessities of allowing exceptions on the local public enterprises’ preparing the consolidated financial statements on the passive investment by investment commissioning system. This study claims the local public enterprises’ preparation of the consolidated financial statements not by full adoption of K－IFRS but by partial adoption of K－IFRS, in other words, easing the preparation standards of the consolidated financial statements for the local public enterprises’ preparation of the consolidated financial statements. This study examines an insurance company’s(general company) and pension fund’s(Quasi－ Government Agency) different reaction to the introduction of K－IFRS and gives implications on the local public enterprises’ preparation of the consolidated financial statements. This study gives marginal contribution in minimizing side effects on adopting K－IFRS through seeking the introduction direction of the local public enterprises’ consolidated financial statements and addressing the necessities in advance preparation and check to make sure the suitability of the local public enterprises through comprehending practical benefit on adopting K－IFRS.

Keywords

• Consolidated Financial Statements
• K－IFRS
• Collective Investment Vehicle
• Investment Commissioning
• Reserve Fund for Essential Business

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