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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] In an attempt to conceal embezzlement, internal employees manipulated accounting records in three separate incidents this year alone.
According to the Financial Supervisory Service (FSS) on the 23rd, there were 11 disclosures of embezzlement and misappropriation by listed companies in the first quarter of this year. In comparison, there were 48 cases reported last year, 13 in 2022, and 36 in 2021.
Moreover, there were three instances of accounting violations in the first four months of the year where finance and accounting personnel embezzled funds and manipulated cash, accounts receivable, or accounts payable balances to conceal their actions. Compared to one case last year, seven in 2022, and two in 2021, this represents a significant number.
According to the accounting audit findings disclosed by the FSS, an executive in charge of funds at Company A transferred money to their personal bank account and disguised it as payments to suppliers to conceal the embezzlement. When the auditor requested evidence of payments to suppliers to verify accounts payable amounts, the executive refused to send the inquiry, citing reasons related to the supplier's circumstances.
The executive, who handled both finance and accounting tasks in the finance department, was entrusted with authority over voucher management, making it easy to manipulate relevant documentation.
AlphaBIZ Kim Minyoung(kimmy@alphabiz.co.kr)
