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FSC dismisses Samil PwC appeal in Daewoo Shipbuilding accounting fraud case

( January 27, 2016, 04:06 GMT | Insight) -- South Korea's Financial Supervisory Service has dismissed an appeal by Samil PwC against fines of 1.06 billion won ($880,517) in an accounting fraud case involving Daewoo Shipbuilding & Marine Engineering, Yonhap News reports. Last October, Daewoo ...South Korea's Financial Supervisory Service has dismissed an appeal by Samil PwC against fines of 1.06 billion won ($880,517) in an accounting fraud case involving Daewoo Shipbuilding & Marine Engineering, Yonhap News reports. Last October, Daewoo Shipbuilding was fined 2 billion won for accounting fraud worth 380 billion won and Samil was sanctioned as it had conducted an external audit of the firm. The accounting firm was prohibited from conducting external audits of Daewoo Shipbuilding for two years and from conducting audits of listed firms not traded on the KOSDAQ for a year. Samil denied that it had acted improperly, and is considering whether to file a lawsuit against the FSC. ...

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