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Gov`t to Go Easy on Officials Pursuing Biz Recovery

Posted December. 11, 2008 05:35,   


Public officials will be exempt from punishment if they violate due processes or waste budget in pushing for policies aimed at overcoming the economic crisis.

The Board of Audit and Inspection yesterday announced new audit guidelines to that end.

Board official Nam Il-ho told reporters, “To tide over the current economic downturn, we will apply the new guidelines to financial institutions, financial regulators and economy-related ministries.”

The guidelines will mainly apply to those handling credit matters, including debt rollover and renewal, guarantee and corporate restructuring at financial institutions. Officials tasked with corporate restructuring, approval and permission, and fiscal spending at financial regulators and economy-related ministries will also be granted leniency.

If auditors conclude that public officials inadvertently make mistakes while pursuing their tasks, they will not be held accountable or given heavy punishment.

Civil servants who neglect their public welfare duties without clear reasons will be harshly punished, however, the board said.