The Korea Technology Finance Corporation (KTFC) (Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced that it signed a “Business Agreement for Strengthening Audit Expertise and Advancing Internal Control” with the Korea Trade Insurance Corporation (CEO Jang Young-jin, hereinafter referred to as “KIBO”) at KIBO’s headquarters in Seoul on Thursday the 28th.
This agreement was created to create synergy by allowing the two organizations to exchange knowledge and experience across all aspects of auditing work, and to strengthen the expertise of the overall audit and internal control system.
According to the agreement, the two organizations plan to cooperate in various areas, including ▲exchange of auditing techniques for financial support work, ▲sharing of best practices in operating internal control systems, and ▲cross-auditing and mutual support of audit personnel by specialized field.
Through this agreement, Kibo plans to establish a close audit network with Moobo and share the expertise and diverse know-how of each institution, thereby supplementing the existing audit system and elevating audit capabilities and internal control to the next level.
Lim Myeong-bae, auditor of the Korea Institute of Finance, said, “This agreement is very meaningful in that it creates synergy and promotes mutual development by exchanging audit resources and expertise between public financial institutions.” He added, “Going forward, the institute will continue to expand cooperation with related organizations to establish an advanced audit system and strive to establish a transparent and sound internal control culture.”
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