The Board of Audit and Inspection noted on the 30th that errors amounting to approximately 5.7 trillion won were identified in the national financial statements for 2024.
The Board of Audit and Inspection submitted the 'Financial Statement Inspection Report' to the National Assembly, after correcting errors in the '2024 fiscal year financial statement' approved in a Cabinet meeting last month.
The inspection revealed errors totaling 5.7 trillion won, including 2.9 trillion won in asset items, 100 billion won in liability items, and 2.7 trillion won in fiscal operation results.
In the case of assets, errors in accounting treatment occurred in the Ministry of Land, Infrastructure and Transport's item 'recognition of acquisition and usufruct of social infrastructure,' leading to an understatement of 2.2 trillion won and an overstatement of 2 trillion won.
In the liability section, accounting errors occurred in the Defense Acquisition Program Administration's 'long-term unpaid expenses' and 'provision,' resulting in an overstatement of 163.6 billion won and an understatement of 41.6 billion won, respectively.
After correcting the errors, national assets decreased by 2.9 trillion won to 3,218.4 trillion won compared to the pre-inspection figures. Liabilities decreased by 1 trillion won to 2,585.7 trillion won.
The fiscal operation result, which reflects how the national budget was managed, is calculated by deducting non-obligatory revenue from total operating costs and increased from 58.7 trillion won before inspection to 61.4 trillion won after inspection.
The scale of errors in this financial statement is about half of the 10.4 trillion won found in the 2023 fiscal year financial statement.
Last year's settlement of income and expenditure matched the calculations of the Ministry of Economy and Finance and the Board of Audit and Inspection.
Last year's revenue was 535.9 trillion won, expenditures were 529.5 trillion won, and the budget surplus was recorded at 2 trillion won.
The government debt, based on central government standards, increased by 48.7 trillion won from 1,092.5 trillion won in 2023 to 1,141.2 trillion won last year.