The Board of Audit and Inspection or BAI is the Supreme Audit Institution(SAI) of the Republic of Korea. In accordance with the provisions of Article 97 of the Constitution, the BAI is responsible for the confirmation of the final accounts of the State's revenues and expenditures, audit of the accounts of the State and entities designated by statutes, and inspection of the duties of government agencies and government officials.

 In 1995, the BAI placed top priority on the establishment of a 'small but clean and efficient government', and full support of the globalization policies of government. In line with the basic directions, the BAI made its utmost effort to encourage a safety-first attitude by conducting strict investigations into defective construction works, and to elevate the quality of life of the people by performing a thorough audit and inspection of matters affecting people's living, such as the production and distribution of medical supplies. The BAI also made comprehensive examinations of the implementation of deregulation policies designed to stimulate economy and to enhance the international competitiveness of the nation. Based on the results of the examinations, the BAI encouraged the pertinent agencies to take drastic deregulation measures.

 In addition, the BAI changed its posture from fragmentary, passive examination to positive, future-oriented one. In practice, the BAI did its best to remove institutional drawbacks barring the efficient implementation of the major government policies.

 Besides, the BAI appointed some citizens as Honorary Inspectors and fully supported the 'Civilian Eyes for the Prevention of Defective Construction'. It also strengthened cooperative relations with internal audit and inspection organizations, providing reinforced training programs for the internal audit and inspection staff.

 The BAI was designated as the host of the 17th Congress of the INTOSAI(International Organization of Supreme Audit Institutions) at its 15th congress in 1995. During the year, the BAI aetively did international activities, both bilateral and multilateral. Participation in the International Anti-Corruption Conference was one of them.

 This annual report presents to readers BAI's audit and inspection activities and results, and other important activities for 1995 with a brief introduction to the role, status, duties, functions, and organization of the BAI. We hope that it will help the readership to gain a better understanding of the Board of Audit and Inspection of the Republic of Korea and its activities, and further hope that it will possibly generate active discussions and promote exchange of ideas and experiences for the development of government auditing.

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