Korea Student Aid Foundation Selected as 'Top Institution' in Board of Audit and Inspection's Self-Audit Activity Evaluation

The Korea Student Aid Foundation (Chairman Bae Byeong-il) announced on the 26th that it was selected as the best institution in the 2023 self-audit activity evaluation by the Board of Audit and Inspection and received a commendation from the Chairman of the Board of Audit and Inspection.

The Board of Audit and Inspection conducts annual evaluations of self-audit activities targeting institutions subject to the "Act on Public Audit," including central administrative agencies and public institutions, to strengthen self-audit capabilities. Especially from 2023, to increase interest in overall internal control and ensure accountability, the evaluation was conducted by newly adding an institution-level internal control support area (50%) to the existing self-audit activity area (50%).

Jin Manseong, Standing Auditor of the Korea Student Aid Foundation (second from the left), and Choi Jaehae, Chairman of the Board of Audit and Inspection (third from the left), stood in front of the camera at the awards ceremony.

The Korea Student Aid Foundation was evaluated to have faithfully implemented institution-level internal control support efforts, such as holding a joint declaration ceremony between the Chairman and the Standing Auditor to strengthen internal control.

In addition, it was recognized for the excellence of its self-audit activities by promoting proactive administration through a specific audit on work simplification practices, achieving an overall evaluation grade of 'A' for the first time since the institution's establishment, and was selected as the best developing institution among 23 quasi-governmental agencies.

At the award ceremony held on the 24th, Jin Man-seong, Standing Auditor of the Korea Student Aid Foundation, said, "This is the result of the efforts of all members to strengthen internal control and improve the quality of self-audits," adding, "We will enhance the transparency and fairness of the student loan support system through preventive audits in corruption-prone areas and strengthening internal control management, and foster a sound public service culture."