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[Finance/Accounting] Barun Law successfully represented the defendant in a case where it was alleged of window-dressing in violation of the Audit Act and the Capital Market Act. 11/27/2018
1. Case summary
  Background: The defendant, including its Representative Director and a manager was indicted for violating the Act on External Audit of Stock Companies (the “Audit Act”) and the Financial Investment Services and Capital Market Act (the “Capital Market Act”) due to its failure to set aside provisions for bad debt in the end of 2011 with regard to its affiliate with impaired capital to which the defendant had receivables. The defendant did not set aside provisions for bad debt of KRW227 billion and KRW211.5 billion in the financial statements of 2011 and 2012. The defendant disclosed the misrepresented financial statements.
 

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