Internal Controls Must Evolve: Companies Urged to Address AI and Cybersecurity Risks

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Samil PwC Holds ‘Internal Control Future Strategy Seminar’
Survey Results from 494 Listed Companies Shared
AI Utilization in Internal Control Expected to Expand
“Cybersecurity Must Be Managed in Integration with Internal Control”

On the 18th, partner Seongjae Lim is speaking at the'7th Internal Control Future Strategy Seminar' held at Amore Hall, Samil PwC headquarters in Yongsan-gu, Seoul. Photo by Samil PwC

On the 18th, partner Seongjae Lim is speaking at the ‘7th Internal Control Future Strategy Seminar’ held at Amore Hall, Samil PwC headquarters in Yongsan-gu, Seoul. Photo by Samil PwC

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Due to the recent amendment of the Commercial Act, the responsibilities of boards of directors and the requirements for internal control have been strengthened, while the proliferation of artificial intelligence (AI) and increasing cyber security threats have become more prominent. Experts advise that internal control within companies should now encompass AI and cyber risks, rather than focusing solely on financial reporting as in the past.

On June 19, Samil PwC announced that the previous day, it had held the “7th Internal Control Future Strategy Seminar” at Amore Hall in its Yongsan-gu, Seoul headquarters, under the theme “Internal Control Response Strategies in the Era of AI Proliferation and…

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