 |
Panoramic view of Asiana Airlines headquarters. (Photo = Asiana Airlines) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] The Securities and Futures Commission held its sixth meeting on the 27th and decided to designate auditors for seven companies, including DLpharm and Asiana Airlines, which prepared and disclosed their financial statements in violation of accounting standards.
In addition, while auditing the company's financial statements, measures such as restrictions on audit work were imposed on accounting firms and their certified public accountants who violated accounting audit standards.
Asiana Airlines, a securities market-listed corporation, omitted the comments of related parties even though four subsidiaries borrowed funds from related parties and used them as acquisition funds. In addition, instead of bearing disadvantageous conditions when signing an in-flight meal supply contract with a specific company, the company agreed to take over new bonds of related parties through a behind-the-scenes contract and did not enter them in the related party's trading note. Securities & Futures Commission took measures to restrict securities issuance in August and designate auditors for two years.
Kumho Express, like Asiana Airlines, did not list the trade notes of related parties. Although the difference between the amount issued by preemptive bonds and the amount of bonds should be recognized as gains and losses in return for back-door contracts, it was overestimated by recognizing them as capital surpluses to cover up behind-the-scenes contracts.
Measures were taken to restrict securities issuance in December, three years of auditor designation, recommend the dismissal of the CEO, notify the prosecution of the company, former CEO and former auditors, and demand correction.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
