April 24, 2024

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[THE INVESTOR] The probe into Daewoo Shipbuilding & Marine Engineering’s accounting fraud is firm climbing higher up the ladder at Deloitte Anjin.

On Dec. 8, the prosecution revealed that the former deputy chief of Deloitte Anjin identified by the surname Shin has been summoned for questioning in connection with the alleged accounting fraud. 

Shin, who left the accounting firm after the DSME case broke out, is suspected of violating the Act on External Audit of Stock Companies. Before his resignation, Shin oversaw Deloitte Anjin’s audit of DSME.

DSME posted operating profit of 409.9 billion won (US$353.92 million) and 471.1 billion won, respectively, for 2013 and 2014. However, the company posted an operating loss of 5.5 trillion won in 2015, and later reflected 2 trillion won of the loss to the 2013 and 2014 books.

Deloitte Anjin is suspected of having approved DSME’s accounts despite being aware that the shipbuilder was tampering with its accounts.

So far, a former Deloitte Anjin executive identified by the surname Bae, who was in charge of onsite audit of DSME, has been indicted on charges of tampering with the audit results.

By Choi He-suk (cheesuk@heraldcorp.com)