Korea Teachers' Credit Union-Korea Western Power, Audit Cooperation Agreement... Strengthening Anti-Corruption System

Enhancing Audit Expertise and Quality Improvement
Establishing Anti-Corruption System through Continuous Exchange and Cooperation
Kim Jaesu, Standing Auditor, "Expect Strengthened Transparency and Soundness"

The Korea Teachers' Credit Union announced on the 30th that it has signed an audit cooperation agreement with Korea Western Power to collaborate and support audit activities.

Kim Jae-su, Standing Auditor of the Korea Teachers' Credit Union (fourth from the left), and Lee Sang-ro, Standing Auditor of Korea Western Power (fifth from the left), signed the "Audit Work Agreement for Cooperation and Support in Audit Activities" on the 29th.
[Photo by Korea Teachers' Credit Union]

This agreement was established to create a synergy effect in the anti-corruption internal control system by combining the Korea Teachers' Credit Union's expertise in conflict of interest prevention checks with Korea Western Power's effective continuous monitoring system.

The main contents of the agreement include ▲ exchange of audit information and technology to enhance audit expertise and quality ▲ support of specialized audit personnel during audit activities (such as cross audits) ▲ cooperation in operating educational programs such as practical meetings and workshops. Through this agreement, both organizations agreed to share audit know-how and exchange audit techniques.

The Korea Teachers' Credit Union has continuously strengthened exchanges and cooperation among its internal audit organizations through audit cooperation agreements with external institutions such as the National Pension Service, Korea Student Aid Foundation, and National Health Insurance Service. Through this, it has promoted the improvement of the overall internal audit quality and the strengthening of the internal control system. It also achieved the Excellence Award in the Strategic Innovation category at the ‘2023 Korea Auditors Conference’.

Kim Jae-su, Standing Auditor of the Korea Teachers' Credit Union, said, “We are very pleased to sign an audit cooperation agreement with Korea Western Power, which prioritizes the safety of the public and the environment,” and added, “We hope this agreement will serve as an opportunity for each institution to establish an organic cooperation system to further enhance management soundness and transparency.”