Seegene, a new coronavirus infection (Corona 19) diagnostic kit, was sanctioned by financial authorities for violating accounting standards, showing a decline on the 9th.
At 9:15 am on the day, Seegene was trading at 172,000 won, down 7,500 won (4.16%) from the previous day.
Previously, the Securities and Futures Commission held a regular meeting on the previous day,[096530]It announced that it has taken measures such as imposing a fine on the company.
According to the Jeungsun Committee, it was investigated that Seegene, a manufacturer of medical supplies, voluntarily carried out excessive quantities of products that exceed the actual order volume from 2011 to 2019 to the agency and recognized all of them as sales, and over or understated sales, cost of sales, and related assets. .
The Jeungsun Committee decided to impose a fine on Seegene (final decision by the Financial Services Commission), three years of appointment of an auditor, recommendation to dismiss an executive in charge and six months to suspend work, and to improve internal control.
Meanwhile, Seegene announced the sanctions on the same day, saying, “In the third quarter of 2019, we have already revised the financial statements to reflect all past accounting related matters related to supervision (investigation) points.” There is no further correction or correction due to this action,” he said.
“In order to fundamentally compensate for the deficiencies related to accounting caused by the lack of professional manpower and systems in the past management part, we have been steadily strengthening management capabilities and activities such as recruiting experts and operating the internal accounting management system since last year. I will do my best to avoid it.”
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