Ostem Implant, Last Year's Financial Statement Audit Opinion 'Unqualified'

[Asia Economy Reporter Lim Hye-sun] Ostem Implant, embroiled in a 200 billion won embezzlement case, received an 'unqualified' audit opinion.

Ostem Implant announced on the 21st that it received an unqualified opinion on its financial statements in the audit report conducted by Induk Accounting Corporation. However, due to the embezzlement incident last year, the audit opinion on the internal accounting control system was 'adverse.'

The internal accounting control system is an internal control system operated by a company to prepare and disclose financial statements in accordance with accounting standards. Listed companies must have their internal accounting control systems reviewed by auditors.

Ostem Implant's stock trading has been suspended since January 3.