[Edaily Reporter Shin Ha-yeon ] Bonne Co., Ltd.(226340)announced on the 18th that allegations of embezzlement and breach of trust have been raised against its former and current CEOs.
The amount in question is 102.86 million won, which represents 0.3% of the company’s equity capital of 38.28308 billion won. The allegations were confirmed through an investigation by an external expert appointed by the audit committee following an internal tip-off, as well as through forensic procedures.
The executives involved are former CEO Mr. Lim and current CEO Mr. Kang. The company’s board of directors has decided to recover the full amount confirmed to date and plans to proceed with recovery after completing necessary procedures, including consultations with the parties involved.
In addition, Hyosung plans to strengthen the independence and effectiveness of its audit functions and implement measures to improve internal controls, such as operating a Transparency Management Committee and strengthening prior approval procedures.
The company stated, “The amount in question is based on what has been confirmed so far and may change depending on the auditor’s future audit and review procedures, as well as investigations and determinations by relevant authorities,” adding, “We plan to issue another disclosure if any additional details are confirmed or finalized.”
The amount in question is 102.86 million won, which represents 0.3% of the company’s equity capital of 38.28308 billion won. The allegations were confirmed through an investigation by an external expert appointed by the audit committee following an internal tip-off, as well as through forensic procedures.
The executives involved are former CEO Mr. Lim and current CEO Mr. Kang. The company’s board of directors has decided to recover the full amount confirmed to date and plans to proceed with recovery after completing necessary procedures, including consultations with the parties involved.
In addition, Hyosung plans to strengthen the independence and effectiveness of its audit functions and implement measures to improve internal controls, such as operating a Transparency Management Committee and strengthening prior approval procedures.
The company stated, “The amount in question is based on what has been confirmed so far and may change depending on the auditor’s future audit and review procedures, as well as investigations and determinations by relevant authorities,” adding, “We plan to issue another disclosure if any additional details are confirmed or finalized.”
