Strengthening Embezzlement Prevention and Internal Controls... Ministry of Employment and Labor Public Institutions Enhance Audit Capabilities Through Training
Joint Education, Support for Training of Small-Scale Audit Institutions
The Audit Council of public institutions under the Ministry of Employment and Labor has launched joint activities to prevent embezzlement and strengthen internal controls.
The Korea Workers’ Compensation and Welfare Service (Standing Auditor Kim Daewon) announced on the 4th that it held a joint training and seminar to strengthen audit capabilities regarding embezzlement and internal control systems for auditors and audit officials of public institutions under the Ministry of Employment and Labor.
The Audit Council of public institutions under the Ministry of Employment and Labor was launched in June with a joint declaration of anti-corruption and integrity. The council, consisting of four institutions?the Korea Workers’ Compensation and Welfare Service, Korea Occupational Safety and Health Agency, Human Resources Development Service of Korea, and Construction Workers Mutual Aid Association?aims to promote exchanges on audit practices and seek ways for further development.
This training was conducted with the participation of auditors, heads of audit offices, and audit officials from each institution to strengthen audit capabilities related to embezzlement prevention and internal control systems among affiliated organizations, as well as to support audit education for small-scale audit institutions.
The Audit Council invited experts from various fields, including attorneys, certified public accountants, and financial company compliance officers, to provide systematic and practical professional training on topics such as: ▲ Overview of embezzlement and case studies ▲ Financial and accounting audit techniques for embezzlement prevention ▲ Internal control systems in the financial sector ▲ Digital (AI) audit techniques.
Additionally, the council shared internal control system information and discussed directions for improvement by presenting and studying embezzlement prevention processes and case studies from each institution.
Kim Daewon, Standing Auditor of the Korea Workers’ Compensation and Welfare Service, stated, “Through joint training among audit organizations, we will do our best to prevent embezzlement incidents in public institutions operated with taxpayer money, strengthen each institution’s internal control system, contribute to the improvement of the national audit system, and become an institution trusted by the public.”
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Kim also added, “In the future, the Audit Council of public institutions under the Ministry of Employment and Labor will continue activities to enhance audit capabilities and support small-scale public institutions through cross and joint audits, expanded joint training, and information sharing.”
The Audit Council of Public Institutions under the Ministry of Employment and Labor (Chairman Dae Won Kim, Auditor of the Korea Workers' Compensation and Welfare Service, fifth from the right) is conducting an educational seminar to prevent embezzlement and strengthen internal controls.
View original image© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
