As the social role of corporations has expanded, so too has the social role of accounting. However, because accounting is perceived merely as a means of calculating corporate profits and assets, its social role tends to be undervalued. Through a literature review, this paper examines—under the assumption that the neglect or disregard of accounting prescriptions in resolving various conflicts manifested in contemporary Korean society, particularly conflicts arising from corruption structures, labor-management conflicts, and tax-related conflicts, stems from dishonest accounting records—the importance of faithful bookkeeping. Faithful bookkeeping is not merely a recording technique; its importance should be recognized as a dimension of national ethos. The issue of faithful bookkeeping is not only the foremost problem that should be addressed in socially related accounting in Korea, but should also be considered the most important task in corporate accounting standards, tax law, and various economic and industrial policies.