The small and medium enterprises which do not receive the external audit have fewer interested parties for the accounting information and lower mandatory disclosure of financial reports than the large companies do. Therefore the voluntary effort for the accounting transparency of SMEs is insufficient. In addition, their lack of accounting capacity and the accounting treatment for tax purposes leads to low reliability of financial statements. This study investigates the actual accounting conditions of SMEs without external audits and suggests the ways of enhancing accounting transparency by separating the external environment and internal environment. To ensure the transparency of accounting for SMEs, future SMEs- related institutions will act as accelerators for the stable and transparent growth of SMEs, and the overall efforts by the management of small businesses are expected to increase the SMEs' accounting transparency.