[THE INVESTOR] Deloitte Anjin’s partial business suspension will go into effect on April 1, a local daily reported on March 13.
According to the business daily Money Today, Seoul’s financial authorities have informed Deloitte Anjin that a partial suspension will be imposed over its alleged role in Daewoo Shipbuilding & Marine Engineering’s accounting fraud.
The penalty as drawn up by the Financial Supervisory Service prohibits Deloitte Anjin from offering services to listed and unlisted companies for 12 months. For the fiscal year 2016, Deloitte Anjin audited 1,068 companies, of which 223 are publicly traded.
However, the inspection board of the Securities and Futures Commission is reportedly reviewing limiting the measure to listed companies, and to reduce the duration of suspension.
The inspection board’s suggestions will be reviewed by the SFC, and related discussions will be concluded within the month.
By Choi He-suk (cheesuk@heraldcorp.com)