[Alpha Biz= Reporter Kim Jisun] Contact lens manufacturer Interojo was suspended from trading by the Korea Exchange for "rejecting audit opinions." The move comes as an external auditor questioned inventory assets worth more than 47 billion won. Interojo recently sought to sell its management rights for a ransom of 1 trillion won It has failed.
On the 5th, Interojo announced that Samil PWC Accountings, an auditor, rejected the audit opinion on last year's business year's financial statements, citing limited scope of audits. An auditor usually rejects an audit opinion when it is impossible to obtain the exact basis of the financial statements.
Samil PWC Accountings questioned over 47 billion won in inventory. As the basis for the rejection of opinion, Samil Accounting Corp. said, "We did not receive an accurate list of inventory assets from the company when attending due diligence on inventory assets in relation to 47.73 billion won in inventory assets at the end of last year, which was included in the financial status list."
Problems have also been raised with the sales sector. Samil PWC Accountings stated, "We have not secured sufficient and adequate audit evidence for the facts and accuracy of sales, including the revenue recognition time of the company's sales."
The suspension of the transaction on Interrozo is whether the expiration date of the objection period for delisting or whether the delisting of the objection is decided. Interrozo's market capitalization is 329.1 billion won as of this day.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
