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Case Code: FINC170
Case Length: 9 Pages
Period: 2012-2015
Pub Date: 2020
Teaching Note: Available
Price:Rs.250
Organization : Samsung Biologics
Industry :Pharmaceuticals & Biotech
Countries : South Korea
Themes: Ethics in Accounting / IPO /Going Public
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Samsung Biologics – Accounting a Subsidiary as an Affiliate

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INTRODUCTION

 
In November 2018, Kim Yong-beom (Kim), chairman of South Korea’s finance regulator, Securities and Futures Commission (SFC), announced, “We concluded that the company violated accounting standards intentionally in 2015 to have legitimacy in changing its controlling power [in its affiliate].” The company Kim was referring to was Samsung BioLogics Co Ltd. (BioLogics), South-Korea-based manufacturer of biopharmaceuticals...

 

 
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