Hiring Guide
How to Hire an Accountant or CPA
In Korea, only registered professionals may legally handle tax filing and bookkeeping on your behalf (세무대리): mainly a 세무사 (licensed tax accountant), or a 공인회계사 (CPA) who has registered for tax work. Choose one whose experience matches your business type and size, confirm their registration before you sign, and get the full fee in writing.
Written by James Chae — Co-Founder, Expert Sapiens
Platform expertise: Accounting & CPA selection · Reviewed September 2026
When do you need an accountant or CPA?
- Your books are behind or disorganized and you need a clear financial picture
- You're preparing for year-end or need your financials cleaned up before filing
- You're a new business owner and need help setting up accounting software (QuickBooks, Xero, etc.)
- You're preparing for an audit, investor review, or bank loan application
- You need a second opinion on financial statements before signing off
How to vet an accountant or CPA
Questions to ask before hiring
Use these in an intro call or first session to quickly assess fit and expertise.
1.Are you a registered 세무사, and who will handle my account day to day?
Why it matters: Only registered professionals may do 세무대리 in Korea. You want a clear answer on who prepares the filings and who reviews them, so you know what you are paying for.
2.What does the monthly fee cover, and what is billed separately?
Why it matters: Fees are usually quoted before VAT and are set by contract, because there is no official fee schedule. The year-end adjustment (조정료), income-tax filing, payroll and 연말정산 are often separate line items, so the real annual cost can be well above 12 times the monthly fee.
3.Have you handled a business like mine, with the same structure, revenue range and VAT status?
Why it matters: Sole proprietors and corporations, simplified and general VAT filers, file differently and make different mistakes. A concrete example of a similar client tells you more than a general claim of experience.
4.When will you contact me before the VAT and income-tax deadlines?
Why it matters: General VAT filers file by 25 January and 25 July, and income-tax returns are due 31 May (30 June if you must file with a tax-accountant confirmation, 성실신고확인). Late filing can bring penalties, so you want a reminder well before the last week.
5.If the National Tax Service sends an inquiry or audit notice, will you represent me, and at what cost?
Why it matters: Responding to an inquiry or audit is usually billed separately from bookkeeping. Knowing the scope and price in advance avoids a surprise when you are under pressure.
What to expect
Sessions are structured and detail-oriented. Your accountant will review your current books, financial statements, or specific records, then walk through the issues, errors, or improvements needed. Expect precise, compliance-focused feedback with clear next steps — not vague financial advice.
What Red Flags Should You Watch For?
Official Resources
Directory of every US state Board of Accountancy, the regulator that licenses CPAs. Find your state's board to verify an accountant's CPA license.
Verify that a tax professional is a licensed Enrolled Agent authorized to represent clients before the IRS.
Professional body for CMAs (Certified Management Accountants) — useful for verifying management accounting credentials.
Related Comparisons
Key Terms
GAAP (Generally Accepted Accounting Principles)
GAAP (Generally Accepted Accounting Principles) is the standard framework of accounting rules used for financial reporting in the United States. Publicly traded companies are required to report under GAAP; many private companies must as well when seeking investment, bank financing, or preparing for acquisition.
Accrual Accounting
Accrual accounting is a method of recording revenues and expenses when they are earned or incurred — regardless of when cash actually changes hands. It provides a more accurate picture of a business's financial position than cash-basis accounting.
Cash Basis Accounting
Cash basis accounting records revenues when cash is received and expenses when cash is paid — regardless of when the underlying transaction occurred. It is the simpler of the two main accounting methods and is commonly used by small businesses and sole proprietors.
Balance Sheet
A balance sheet is a financial statement showing a company's assets, liabilities, and equity at a specific point in time. It follows the accounting equation: Assets = Liabilities + Equity. It is one of the three core financial statements, alongside the income statement and cash flow statement.
Depreciation
Depreciation is the accounting process of allocating the cost of a tangible asset (equipment, vehicles, buildings) over its useful life. Rather than expensing the full cost in the year of purchase, depreciation spreads the expense across multiple years, matching costs with the revenue the asset helps generate.
Accounts Receivable (AR)
Accounts receivable (AR) is money owed to a business by its customers for products delivered or services rendered but not yet paid for. It appears as a current asset on the balance sheet and represents the business's legal right to collect payment.
Accounts Payable (AP)
Accounts payable (AP) is money a business owes to its vendors and suppliers for goods or services received but not yet paid for. It appears as a current liability on the balance sheet and represents the business's short-term payment obligations.
Amortization
Amortization is the gradual reduction of a debt over time through regular payments, or the accounting process of expensing intangible assets (patents, trademarks, goodwill) over their useful life. The term applies to both loan repayment and asset accounting.