[Alpha Biz=(Chicago) Reporter Kim Jisun] Kakao's audit committee has launched an audit of its affiliates' SM Entertainment executives.

Kakao said on the 25th that it is conducting an audit of SM Entertainment's financial statements through an external law firm at the request of an audit committee under the board of directors.

Since Kakao became the largest shareholder, the audit committee has demanded the submission of data on the appropriateness of the investment proposal made by SM Entertainment without prior consultation with its headquarters and is conducting an investigation, including forensics.

"We are checking the data only for those who have agreed to the company's own business PCs," a Kakao official said. "We have not collected data on those who refused to investigate."

 

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