▲ The president of the 39th Student Council discussing about financial audit (Photo by SeoulTech Times)

On January 2, 2023, a statement from the president of the 38th Student Council was posted on the Student Council's SNS. The statement rejected the financial audit, which was conducted in 2022. Below is the statement in full, along with a summary of the events around it:

 

In the second half of 2022, some members of the Financial Audit Committee were ineligible to conduct a financial audit due to not paying Student Council fees which are an essential requirement for financial auditors. Additionally, the Financial Audit Committee failed to fulfill the responsibilities of its role: for instance, by not submitting documents before the deadline. Therefore, the Student Council's position is that the financial audit can't proceed at this time.

 

The Student Council added that they would disclose all of the documents which were submitted for the financial audit. However, controversy arose over why the Financial Audit Committee's eligibility was not queried at the beginning of the semester, rather than at the point of a financial audit. Additional questions arose over whether the Student Council's rejection of the audit was in order to hide a lack of transparency with finances.

On the following day, the Student Council posted a second statement, making clarifications on the areas of contention. First, they expressed a willingness to comply and settle accounts with the next Financial Audit Committee, which would be set up on a temporary basis. The council pointed out that their objection was to the present committee's eligibility to conduct the financial audits, rather than the audit itself. Additionally, in response to rumors of embezzlement, the Student Council emphasized the dedication with which its student representatives work and dismissed the rumors as unsubstantiated criticism.

Despite the additional statement from the Student Council, students remained skeptical as to how the issue will be resolved, with some pointing out that the next Financial Audit Committee will be unable to take action if mismanagement has taken place and the students responsible have graduated or taken a semester off. Moreover, delayed audits will result in the next Financial Audit Committee having double the workload, resulting in potentially less thorough work. Therefore, students demanded an alternative solution so that the Student Council could be audited as soon as possible.

This led to a third statement from the Student Council, posted on January 15. The council apologized for failing to find an appropriate solution and gave further details on the background of the dispute between itself and the Financial Audit Committee.

Acknowledging the need for an immediate solution, and thepotential for overloading the next Financial Audit Committee, the council stated that it would cooperate with the 39th Student Council in establishing a temporary Financial Audit Committee eligible to carry out financial audits, or it would be audited by student representatives. In response, on January 20, a statement was posted by the Financial Audit Committee apologizing for its failures in observing rules. Additionally, the committee pledged to resolve the issue through cooperation with the Student Council and the next Financial Audit Committee.

 

This flurry of activity between the Student Council, Financial Audit Committee and the more general student population means that the Student Council had recruited to set up a temporary organization which will be set up to receive a financial audit in the second half of 2022.

By February 6, the situation had developed, with the 39th Student Council announcing significant progress on the matter. A temporary Financial Audit Committee had been set up, and with all recruits having paid their Student Council fees, all members were fully eligible to conduct financial audits. By February 20, all student organizations had been audited by the Financial Audit Committee, with results now available on the committee's SNS.

 

Why did it happen and how can it be solved?

The cause of the incident was complex, but a lack of thoroughness was a running theme. The non-payment of Student Council fees by the Financial Audit Committee showed a lack of awareness of the requirements for carrying out financial audits, and a minor dispute over the Committee's attitude and financial audit deadlines added to the problem, resulting in the Student Council's rejection of the audit, which then became known to everyone. The Student Council's suggestion that it would allow the next Financial Audit Committee to audit it only served to make matters worse by losing students’ trust.

To prevent such controversies reoccurring, the Financial Audit Committee needs to regain students’ trust that it can monitor the Student Council effectively, and with awareness of the processes it should follow. Indeed, to have a healthy student society, students’ confidence in key organizations is essential.



 

Reporter,

Yoojin Park dreamingloveyoo@seoultech.ac.kr

Reporter 박유진

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• e-mail : dreamingloveyoo@seoultech.ac.kr