Korea Student Aid Foundation Achieves Top Grade for Third Consecutive Year in Board of Audit and Inspection's Internal Audit Assessment

The Korea Student Aid Foundation (Chairman Bae Byungil) announced on May 9 that it achieved the highest grade (A) for the third consecutive year in the 2025 Internal Audit Activity Assessment, which is overseen by the Board of Audit and Inspection.

The Board of Audit and Inspection conducts annual assessments of internal audit activities at a total of 720 institutions subject to the "Public Audit Act," including central administrative agencies and public institutions, in order to strengthen internal audit capabilities. Based on the results of the assessment, which evaluates three areas and ten criteria?such as the performance of internal audit activities?institutions are assigned one of four grades, ranging from A to D.

Korea Student Aid Foundation

In this year's assessment, the Korea Student Aid Foundation received high marks across all evaluation criteria, being recognized for its efforts in the previous year, including improvements to audit infrastructure, advancement of organization-wide internal control systems, promotion of digital audits using IT techniques, and the introduction of a new audit method involving simulated verification of vulnerable areas in internal controls. As a result, the foundation received the highest grade (A) among 45 institutions in the quasi-governmental organization evaluation group.

Jin Manseong, Standing Auditor of the Korea Student Aid Foundation, stated, "The foundation has been pursuing innovation in audit operations by strengthening preventive, digital audit activities to achieve its management goals." He added, "We will continue to play a leading role in fulfilling our social responsibilities as a public institution by further strengthening internal control systems and establishing ethical management, so that we become an organization trusted even more by the public."

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