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Samsung Unit Afoul Of Accounting Law, Regulator Says

PYMNTS

The nation’s Financial Services Commission (FSC) has referred the case to prosecutors, reports said , after finding that the contract drug manufacturing unit violated accounting regulations in regards to its joint venture with Biogen. That notice led to a $6 billion market value loss.

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166: Nicolaas van Wyk

CFO Talks

To do that you need to have a fixed set of standards, you have to get all companies to buy into these standards and then you have to get the auditors to issue reports following, again, a universal methodology on where the companies are following the standards. We can do better, and we should do better.

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