Choi Jae-hyung, Chairman of the Board of Audit and Inspection, "Increase in National Fiscal Expenditure... Checking Risk Factors for Soundness"

Choi Jae-hyung, Chairman of the Board of Audit and Inspection [Photo by Yonhap News]

[Asia Economy Reporter Son Sun-hee] On the 2nd, Choi Jae-hyung, Chairman of the Board of Audit and Inspection, stated, "As the role of finance in economic revitalization increases, fiscal expenditures continue to rise," and added, "We need to check whether national finances are being managed soundly and efficiently."

At 9 a.m. that day, Chairman Choi held the '2020 Opening Ceremony' at the Board of Audit and Inspection's main auditorium with all employees present. In his New Year's address, he said, "As the Board of Audit and Inspection is responsible for national settlement and accounting audits, it is necessary to check whether the risk factors to fiscal soundness are properly predicted and managed to ensure the sustainability of the fiscal expenditure structure."

He continued, "To this end, starting this year, we must examine and analyze the appropriateness of the government's 'mid- to long-term fiscal outlook' and use this as a basis to enhance the substance of the settlement audit report," adding, "We should review the budgeting and execution processes of large-scale fiscal expenditure projects such as welfare programs, SOC investments, and defense capability improvement projects to eliminate inefficiencies and support the enhancement of project outcomes." He also added, "We must focus our capabilities on checking the management and execution of resources for social insurance and public pensions, such as health insurance and military pensions, to improve sustainability."

Chairman Choi identified the four major audit areas for this year as ▲ sound and efficient national fiscal management ▲ support for securing substantial outcomes of government policies ▲ enhancement of the performance and public perception of livelihood and safety measures ▲ realization of a clean and efficient public service.

He especially emphasized, "This year, elections are scheduled," and urged, "Public officials must not be distracted and should remain faithful to their original duties, so there must be no negligence in inspecting public service discipline."

Furthermore, he stated, "We will also focus on auditing passive administration, such as neglecting or delaying duties that should naturally be performed, to foster a public service atmosphere that actively works for the people and public interest."

Addressing the employees, Chairman Choi said, "Above all, we must concretely consider what good audits that benefit the people and the nation are, and we must lead by practicing change ourselves," urging, "Let us boldly shift from supplier-centered audits to demand-centered audits optimized to provide real help to the people."

This content was produced with the assistance of AI translation services.