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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Sun Apr 24, 2005 4:15 am Post subject: 40 Pct of Companies Commit Accounting Fraud in 2004 |
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40 Pct of Companies Commit Accounting Fraud in 2004: Govt Report
Roughly four out of every 10 South Korean businesses engaged in irregular bookkeeping in 2004, a report by the Financial Supervisory Service said Sunday.
The state watchdog said that its probe into 180 companies listed on the Korea Exchange last year showed that 44.4 percent or 80 companies falsified, exaggerated or filed inaccurate reports on their sales, profits or debts.
Yonhap News (April 24, 2005)
http://english.yna.co.kr/Engnews/20050424/420200000020050424140944E0.html |
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Homer
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| Posted: Sun Apr 24, 2005 4:35 am Post subject: |
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Good stat there RR but I think that in your ever ongoing quest to find fault with Korea you hit on a real global winner here!
I mean this 40% figure has to apply to corporations of every country, I smell an article in the Economist for you RR.
I mean you found out that corporations cheat, lie and steal...
That means fame, fortune, groupies and much more for ya!
They will speak your name in the same sentence as Smith, Keyes, and, dare I say Einstein... |
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Gollum
Joined: 04 Sep 2003
Location: Japan
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| Posted: Sun Apr 24, 2005 4:37 am Post subject: |
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Got to cover up the room salon visits somehow!
And I'd guess that's a very conservative figure. |
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tzechuk
Joined: 20 Dec 2004
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| Posted: Sun Apr 24, 2005 5:16 am Post subject: |
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Only 40%?
Someone at the statistics office is bribed to hide the real figure! |
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