The Financial Supervisory Service announced on the 11th that it will inspect the operation status of internal control systems based on the accountability structure starting from the 21st.
The targets for inspection include financial holding companies and banks that introduced the accountability structure this year, as well as large financial investment and insurance companies. The Financial Supervisory Service will conduct inspections on 44 companies out of a total of 62, excluding those included in this year's regular inspection. A total of 8 companies, including 1 financial holding company, 5 commercial banks, 1 regional bank, and 1 foreign bank, will undergo field inspections, while the others will prepare a checklist for a written inspection.
The financial investment and insurance companies will only inspect some of the 67 companies that introduced the accountability structure in July. The FSS noted, "In consideration of the initial implementation phase for large financial investment and insurance companies, we plan to inspect the extent to which key recommendations have been faithfully reflected during preliminary consulting, as well as the status of internal control infrastructure such as internal regulations and systems."