(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] The Financial Services Commission (FSC) announced on the 10th that it has imposed fines on three companies, Seong-An Synthetics, Hyundai Heavy Industries Turbo & Machinery, and J.W. Bio Science, for violating accounting standards in the preparation and disclosure of financial statements.

Seong-An Synthetics' CEO and two former executives were fined 92.6 million won and 185.4 million won respectively.

Hyundai Heavy Industries Turbo & Machinery was fined 218.3 million won as a corporation and 43.6 million won for two former CEOs.

J.W. Bio Science was fined 72.4 million won as a corporation and 7.2 million won for its former CEO.

Additionally, the auditing firms involved in auditing these companies, Ankyung Accounting Corporation and Samjeong Accounting Corporation, were fined 38.8 million won and 10.9 million won respectively for violating auditing standards during the audit process.

 

 

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