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The Securities and Futures Commission of Korea, under the Financial Services Commission, decided to sue Samsung Electronics Co.,
However, Samsung Bio Logics did not conclude on the fundamental point of unfairly changing its control over its subsidiary, Samsung BioEpice, and asked the Financial Supervisory Service to re-oversee. It is feared that uncertainty will worsen as the new Samsung Bio Logics audit and prosecution investigation proceed simultaneously.
Kim Yong-bum, chairman of the Securities and Futures Commission (FSC), said during an emergency briefing on December 12: "Samsung Biologics has grossly violated clear accounting standards at the meeting. 39 today and acknowledged the possibility of violation, "he said. Indeed, Samsung Biologics gave US Bioenergy the option to buy Samsung Biotech (an option to buy) from its subsidiary, but it did not reveal it. As a result, the board of directors of Samsung Bio Logics has pbaded a resolution recommending the revocation of the director, the appointment of auditors and the prosecution. In addition, the audit of the financial statements, the accounting firm and the affiliated CPA that contravened the auditing standards were subject to audit restrictions and four-year prosecution costs.
However, the Supreme Court decided to re-supervise the Financial Supervision Service (FSS) without concluding a surplus of 2 trillion won following a change in the accounting system of the subsidiary Samsung Bio, which became the core of accusations. Vice President Kim said: "We have decided to ask the financial supervision department to report the results of the audit on this part." "The final action on this part will be decided after the FSS audit results are reported to the Addendum, and in the case of reasoned judgments, we will consider the facts before and after 2015" , he said.
The Financial Supervisory Commission (FSS) announces its official position on the morning of the 13th. The Financial Supervisory Service (FSS), which received a request from the Supreme Court of Korea that day, is expected to issue a plan to Additional audit for allegations of accounting fraud in 2012, the Ministry of Finance expects that re-audits be completed in a few months. In May, the Financial Supervisory Service (FSS) decided that Samsung Bio Logics would change the accounting treatment of its subsidiary, Samsung BioEpice, from a subsidiary to a related company in order to inflate the company's valuation to a surplus of 2 000 billion won.
[진영태 기자]
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