Samsung BioLogics denies alleged accounting fraud, faces FSS audit
Apr 3, 2017
Samsung BioLogics on Monday denied allegations that it used accounting fraud to boost its valuation ahead of its public listing last year, as South Korea’s finance regulator prepares to carry out a special audit on the company. The Financial Supervisory Service announced last Thursday that it planned to conduct a detailed audit on the Samsung-owned contract drug manufacturer to examine alleged discrepancies in the firm’s audit reports that were brought to attention by local political parties and