Busan City Audit Committee Officially Launched

Participation of Experts by Field Including Professors, Lawyers, and Accountants

Panoramic view of Busan City Hall. (Photo by Busan City)

[Asia Economy Yeongnam Reporting Headquarters Reporter Yoon Yoseop] The Busan City Audit Committee has officially launched.

Busan City announced that on the 21st at 3 PM, it awarded appointment letters to the audit committee members at the reception room on the 7th floor of Busan City Hall and officially began the activities of the Audit Committee.

The "Busan City Audit Committee" reorganized the existing auditor under the Deputy Mayor for Administration into a collegial administrative body directly under the Mayor, involving external experts. It is expected to lead a trusted audit administration by enhancing the independence, fairness, and expertise of the audit organization.

During the ordinance enactment process, Busan City prepared supplementary measures regarding the independence of the Audit Committee and the protection of members' status, which were raised by the City Council. Last month, it completed the composition of the Audit Committee by appointing non-standing members who are experts in various fields with abundant professional knowledge, such as university professors, lawyers, and accountants.

The Audit Committee consists of seven members including the chairman. The inaugural Audit Committee Chairman is the current Auditor Ryu Je-seong, and the non-standing members (appointed members) are Professor Jeong Hee-woong of the Department of Architecture at Dongseo University, lawyers Ryu Seung-yong, Choi Seong-ju, and Jo Min-ju, accountant Song Deok-yong, and Professor Kim Eun-jeong of the Department of Public Administration at Pukyong National University. They will serve as audit committee members for two years.

The Audit Committee deliberates and resolves matters related to audit policies, audit plans, and decisions on dispositions following audit results independently through regular meetings held at least once a month and occasional meetings.

Audit Committee Chairman Ryu Je-seong said, "With the official launch of the Audit Committee and the strengthened independence and expertise of audits, we will carry out fair and transparent audit administration."

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