Daegu Citizens' Coalition for Economic Justice: "Daegu City-Owned Public Enterprises Not Disclosing Internal Audit Results on Websites"

Public Agencies Disclose on Their Websites
Daegu Technopark Reveals Only a Limited Portion

The Daegu Citizens' Coalition for Economic Justice urged on August 11 that Daegu City-funded and affiliated institutions must release the results of their internal audits on their websites.

The Daegu Citizens' Coalition for Economic Justice stated, "According to 'Local Finance 365,' the local government finance integration and disclosure system operated by the Ministry of the Interior and Safety, the results of internal audits at local government-funded and affiliated institutions are classified as management disclosure items, along with reports from accounting auditors and audits by external institutions," adding, "The internal audit results of organizations under Daegu City are information that must be published on each institution's website."

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Daegu Technopark, which uncovered inflated labor costs for government R&D projects during an internal audit, is known to have disclosed only an extremely limited portion of its internal audit results on its website.

The Daegu Citizens' Coalition for Economic Justice explained, "Daegu Technopark is not the only Daegu City-funded or affiliated institution that does not fully disclose its internal audit results, which are management disclosure items, on its website. Daegu Foundation for Arts and Culture, Daegu Happiness and Welfare Social Service Center, Daegu Credit Guarantee Foundation, and EXCO, among others, also do not fully release the outcomes of their internal audits," adding, "Institutions such as Daegu Foundation for Arts and Culture, like Daegu Technopark, publish the audit reports of accounting auditors and the results of external audits (including comprehensive audits by Daegu City and administrative audits by the Daegu City Council) on their website as required. However, Daegu Metropolitan Transit Corporation and other city corporations, as well as public agencies, release not only accounting auditor reports and external audit results but also the complete internal audit results on their websites."

The Daegu Citizens' Coalition for Economic Justice further emphasized, "Internal audits are even more important than external institution audits. The results of public institution internal audits are critical criteria for assessing whether the agency's internal controls are functioning properly." The group demanded the immediate public release of internal audit results on each institution’s website.

This content was produced with the assistance of AI translation services.