[THE INVESTOR] Accounting firm Deloitte Anjin has come under scrutiny in the expanding Daewoo Shipbuilding and Marine Engineering corruption case, the prosecutors’ office revealed on Sept. 29.

The investigators suspect that Deloitte Anjin turned a blind eye to DSME’s fraudulent accounting.

For 2013 and 2014, DSME posted profits. However, it was revealed that the company had been manipulating the books, and had amassed about 5.5 trillion won (US$ 5 billion) losses. Deloitte Anjin, which had approved DSME’s accounting records in 2013 and 2014, concluded in March this year that about 2 trillion won of the shipbuilder’s losses were incurred in those two years. 
Deloitte Anjin and DSME claim that the irregularities in the books are the result of error rather than deliberate fraudulent accounting. The prosecution, however, is said to have secured evidence to believe that Deloitte Anjin was aware of fraudulent activities at DSME.


By Choi He-suk (cheesuk@heraldcorp.com)