In order for a company to continue to grow, it must strengthen its internal control and risk management system above all else. Internal audits are essential for the solid operation of the organization. In a rapidly changing business environment, the role of self-audit is becoming more important in enhancing the reliability and efficiency of overall tasks such as manpower management, business promotion, and financial management.
In line with this, the Korea Minting and Clearing Corporation is strengthening its expertise and efficiency through daily and comprehensive audits.
When investing in new investments, hundreds of pages of investment plans and estimates are precisely analyzed to carefully review investment recovery strategies, business feasibility, and risk factors.
It is also continuing thorough inspections to establish service discipline from senior executives to working-level employees and to ensure transparency in procurement and budget execution. If inappropriate behavior is found, we are striving to take strict measures and come up with measures to prevent recurrence.
It is also taking the lead in audit innovation using digital technology. Accumulated audit data is built as big data to systematically reclassify management risks and apply artificial intelligence (AI)-based advanced audit techniques to practice. In order to increase the expertise of internal auditors, we are actively supporting the latest digital technology education while continuously improving audit quality.
The culture of audit organizations is also changing. In line with the increasing number of MZ generation employees and the increasing proportion of female workers, the Mint is actively recruiting female auditors to create an audit environment with a sense of fairness and balance. It is expected that more objective and fair audits will be possible as auditors from various backgrounds and perspectives cooperate.
In addition, he is paying attention to the "addiction" problem, which has recently increased interest in fulfilling social responsibility. Last year, the company conducted an "audit on the prevention of drug and gambling addiction" and carried out systematic preventive activities such as the introduction of pledges for new employees, the establishment of related regulations, and the establishment of a regular education system.
Last year, the Mint promoted 16 detailed implementation tasks, including △ Strengthening CEO integrity leadership △ System improvement using ethical risk standard model △ Spread companywide integrity awareness △ Establishing an integrity ethics culture.
As a result, it achieved remarkable improvement from the 4th grade in 2022 to the 2nd grade in 2023 and the 1st grade, the highest grade in 2024 in the 'Comprehensive Integrity Assessment of Public Institutions'. In recognition of these achievements, he was honored with the Presidential Commendation of 'National Rights Day' this year following last year.
After all, auditors are like "salt and oxygen" who support management while maintaining balance. Securing transparency and fairness is paramount for companies to gain public trust and fulfill their social responsibilities.
Efficient risk management and preventive audit activities will provide a strong support for growing into a sustainable, transparent and fair company.
[Kim Bumjin, standing auditor of the Korea Minting and Security Printing Corporation]
