On January 29th, KT&G (CEO Bok-in Park) was awarded the 'Best Organization Award in the Private Enterprise Sector for Internal Audit' at the '2020 Audit Awards' hosted by the Institute of Internal Auditors Korea.

The awards ceremony was held to encourage organizations that have contributed to social development through excellent internal audit and compliance monitoring during the year of 2020. KT&G was highly evaluated for its reinforcement of transparency in management through internal audit consistent with global standards.

Previously, CEO Bok-in Park, who took office in October 2015, emphasized ethical management as a top priority and made the bold decision to reorganize in February 2016, upgrading the Ethics Management Office to the Ethical Management Audit Group. The in-house audit organization's expertise and independence were reinforced, such as by switching to a system directly under the Audit Committee.

Since then, KT&G's Ethical Management Audit Group has established an audit portal system, enabling the selection of key audit items by business field and monitoring them at all times. In particular, the company has been striving to create a watertight environment for audit work, such as updating internal audit regulations and audit work manuals on a regular basis.

In particular, since 2019, the company has been operating an audit expert training course to foster excellent audit talent. Through this training course, audit experts are provided not only with the necessary practical abilities such as audit planning, implementation and follow-up management, but are also instilled with qualities such as sense of mission, fairness, and analytical thinking. This training program was selected as an example of excellent training at a forum hosted by the Korean Human Resource Development Association last year.

Hagyeong Do, Director of the KT&G Audit Group, said, "KT&G proactively prevents corporate risks through an independent internal audit organization directly under the Audit Committee, and in the future, we will increase corporate value by operating a leading audit system in line with global standards.”

 (Photo Description 1) On January 29th, KT&G (CEO Bok-in Park) was awarded the 'Best Organization Award in the Private Enterprise Sector for Internal Audit' at the '2020 Audit Awards' hosted by the Institute of Internal Auditors Korea. The photo shows Hyung-cheol Cha, head of the KT&G Audit Planning Office (right), taking a commemorative photo with Tae-ryong Moon (left), President of the Korea Audit Association after receiving the award.