Purchase Order Auditor in South Korea Seoul –Free Word Template Download with AI

This Purchase Order is issued by Seoul Financial Holdings Co., Ltd. (hereinafter referred to as the "Purchaser") to engage the services of a qualified Auditor firm for the fiscal year 2024–2025 statutory and internal audit of all operations conducted within South Korea Seoul. The Auditor shall perform a comprehensive financial audit in accordance with the Korean Commercial Act (상법), the Financial Services Act, and the International Standards on Auditing (ISA) as adopted by the Korean Institute of Certified Public Accountants (KICPA).

The scope of this Purchase Order encompasses the following deliverables to be executed at the Purchaser's principal offices located in Gangnam-gu, Seoul, South Korea, and at the secondary operational facility in Mapo-gu, Seoul, South Korea:

Total in words: One Hundred Thirty-Two Million Korean Won (₩132,000,000), inclusive of 10% VAT as mandated by the National Tax Service of South Korea.

4.1 Payment Terms: Payment for this Purchase Order shall be made in three (3) installments via bank transfer to the account specified in Section 1. The first installment of 40% (₩52,800,000) is due upon execution of this Purchase Order. The second installment of 40% (₩52,800,000) is due upon delivery of the draft audit report. The final installment of 20% (₩26,400,000) is due within fifteen (15) business days of the Auditor's issuance of the final, unqualified audit opinion. All payments are subject to the Korean Commercial Act and applicable Seoul municipal regulations.

4.2 Independence and Conflict of Interest: The Auditor and all members of the audit team shall maintain strict independence as required by the KICPA Code of Ethics. The Auditor shall disclose any potential conflicts of interest in writing prior to commencing fieldwork in Seoul, South Korea. The Auditor shall not provide any non-audit services that would impair independence during the engagement period.

4.3 Confidentiality: All financial records, trade secrets, and proprietary data of the Purchaser accessed by the Auditor during the course of this Purchase Order shall be treated as strictly confidential. The Auditor shall comply with the Personal Information Protection Act (PIPA) of South Korea and the Seoul Metropolitan Government's data handling guidelines. Confidentiality obligations survive the termination of this Purchase Order for a period of five (5) years.

4.4 Governing Law and Jurisdiction: This Purchase Order shall be governed by and construed in accordance with the laws of the Republic of Korea. Any disputes arising from or in connection with this Purchase Order shall be subject to the exclusive jurisdiction of the Seoul Central District Court, Seoul, South Korea. Mediation shall be attempted through the Seoul International Arbitration Center (SIAC) before litigation is initiated.

4.5 Delivery and Reporting: The Auditor shall deliver all audit reports, management letters, and supporting documentation to the Purchaser's Corporate Governance office at 456 Teheran-ro, Gangnam-gu, Seoul, South Korea. The final audit report shall be issued no later than September 30, 2025, to allow timely filing with the Korea Financial Supervisory Service (FSS) and the Korea Securities Depository (KSD).

4.6 Termination: Either party may terminate this Purchase Order with thirty (30) days' written notice. In the event of termination, the Auditor shall be compensated for all work completed up to the termination date, and all work-in-progress documentation shall be handed over to the Purchaser within ten (10) business days at the Seoul office.

4.7 Force Majeure: Neither party shall be liable for delays caused by events beyond reasonable control, including but not limited to natural disasters affecting the Seoul metropolitan area, government-mandated closures, or regulatory suspensions issued by the Financial Services Commission of South Korea.