Gwangju Gwangsan District Council Appoints Six Settlement Audit Committee Members

Budget Execution Review for 20 Days Starting from the 11th
Final Approval Scheduled at the June Regular Session

The Gwangsan District Council has appointed six audit committee members to review the overall budget execution for last year.

On the 11th, the Gwangsan District Council announced that it had appointed the audit committee members for the 2024 fiscal year and would officially begin the audit process. The committee was selected during the 295th extraordinary session and is composed of council members Park Miok and Kim Myungsook, as well as private sector experts in accounting and finance, such as certified public accountants and tax accountants.

On the 11th, at Gwangsan District Council, Chairman Myungsoo Kim is presenting a certificate of appointment to Councilor Miok Park, who has been appointed as the chief representative for the 2024 fiscal year settlement inspection. Provided by Gwangsan District Council

From today until the 30th, over a period of 20 days, the committee will review the overall budget execution for 2023, including revenue and expenditure settlements, financial statements, performance reports, and treasury settlements.

Park Miok, who was appointed as the chief audit committee member, stated, "We will thoroughly examine whether the budget was used legally and efficiently for its intended purposes," and added, "We will do our best to ensure a transparent audit that meets the expectations of the residents."

After the audit is completed, the committee will submit its audit opinion within 10 days, and Gwangsan District will submit the settlement report, including this opinion, to the council by May 31. The settlement approval process is scheduled to take place during the 297th first regular session in June.

Kim Myungsoo, the council chair, stated, "This is a process to thoroughly examine whether taxpayers' money has been used effectively," and added, "Through the audit, we will enhance transparency in administration and finance and strengthen residents' trust."