Korea Appraisal Board, Audit Board Achieves Highest Grade for 'Internal Audit Activity Review' Two Years in a Row

[Asia Economy Reporter Moon Jewon] Korea Appraisal Board announced on the 3rd that it received the highest grade, A, for two consecutive years in the '2020 Internal Audit Activity Review' conducted by the Board of Audit and Inspection.

The Board of Audit and Inspection evaluates public institutions annually based on the Public Audit Act by assessing four areas: audit infrastructure, audit activities, audit outcomes, and follow-up management to enhance the effectiveness of internal audit organizations.

Korea Appraisal Board explained that it was recognized for the excellence of its internal audit activities by steadily implementing measures such as introducing a proactive administration pre-consultation system, expanding external audit advisory committees, encouraging self-inspections to strengthen internal controls, and reinforcing routine audits.

Lee Seonghun, Auditor of Korea Appraisal Board, said, "It is highly meaningful that we received the highest grade for two consecutive years from the Board of Audit and Inspection, acknowledging our efforts as a corruption-free public enterprise," and added, "We will continue to do our best to create a corruption-free and transparent organization."

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