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Konkuk University Established the First Independent Audit Organization Among Private Universities
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2021.01.04
<p><span style="font-family: arial,helvetica,sans-serif; font-size: 10pt;">A school corporation of Konkuk University has decided to convert the university's audit office into an independent audit organization for the first time in Korea.</span><br /><br /></p> <p><span style="font-family: arial,helvetica,sans-serif; font-size: 10pt;">In order for revitalization of the university’s internal audit to enhance transparency, the school corporation stated at a board meeting on the 29<sup>th</sup> that it will newly establish and operate an independent organization.</span><br /><br /></p> <p><span style="font-family: arial,helvetica,sans-serif; font-size: 10pt;">Currently, Seoul National University and Incheon National University, have been applying and operating the independent audit organization, while Konkuk University is the first one among private universities in Korea. Konkuk University confirmed the decision by a resolution of the board of directors after University Council meeting and Academic Affairs Committee.</span><br /><br /></p> <p><span style="font-family: arial,helvetica,sans-serif; font-size: 10pt;">The decision reflects the system improvement plan that Anti-Corruption & Civil Rights Commission suggested to Ministry of Education regarding budget, personnel and organizations to improve autonomous control system on last January.</span><br /><br /></p> <p><span style="font-family: arial,helvetica,sans-serif; font-size: 10pt;">Anti-Corruption & Civil Rights Commission pointed out that the majority of audit organizations or auditors were in the absence of actual independence and autonomous control system was not being properly managed in the past. Then, it recommended the establishment of independent audit organizations to Ministry of Education, Korea Advancing Schools Foundation, Korean Council for University Education and Korean Council for University College Education, and mentioned that the improved university evaluation standards, thus, will lead to enhanced transparency of universities.</span><br /><br /></p> <p><span style="font-family: arial,helvetica,sans-serif;"><span style="font-size: 10pt;">The independent audit organization of Konkuk University has recruited external audit experts, and Konkuk University said it will further strengthen the responsibility of the university with fair principles-based audits in the future.</span><span style="font-size: 11pt;"><br /><br /><img width="656" height="435" style="margin-right: auto; margin-left: auto; display: block;" src="ArticleFile.do?id=11794667" /><br /></span></span></p>
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