Korea Credit Guarantee Fund, iM Bank and Daegu Credit Guarantee Foundation sign agreement to enhance audit expertise

[Financial News] The Korea Credit Guarantee Fund signed an agreement with iM Bank and the Daegu Credit Guarantee Foundation on the 9th at its headquarters in Daegu to enhance audit expertise and strengthen internal control capabilities.
According to the financial sector on the 10th, the agreement was designed to share the institutions’ accumulated audit know-how, proactively respond to rapidly changing financial and business environments, and strengthen audit operations and internal control systems.
Under the agreement, the three institutions plan to share exemplary audit practices and systems and cooperate in operating and improving systems to strengthen internal controls. They also plan to exchange information and operate a working-level consultative body to promote proactive administration and foster a culture of integrity.
The plan is to strengthen IT audit capabilities using AI and big data in line with the digital transformation trend, while jointly building a future-oriented audit framework.
Min Jwa-hong, auditor at the Korea Credit Guarantee Fund, said, "The three Daegu-based institutions that have supported the regional economy have established a close cooperation framework in the field of auditing," adding, "Through mutual exchanges, we will raise our audit capabilities to the next level and strengthen the institution’s management transparency and integrity, doing our utmost to become a policy finance institution trusted by the public."

[email protected] Park Mun-su Reporter