66 Listed Companies Received "Non-unqualified" Audit Opinions Last Year

According to the audit reports for the 2024 fiscal year, 66 listed companies received a "non-unqualified" opinion.

On June 18, the Financial Supervisory Service announced the results of its analysis of audit opinions on the financial statements of 2,681 listed companies (excluding foreign companies, etc.) for last year’s settlement.

Audit opinions are classified as unqualified, qualified, adverse, or disclaimer of opinion, depending on whether there are limitations on the scope of the audit, violations of accounting standards, or concerns about the company's ability to continue as a going concern.

Among the listed companies for last year’s settlement, 2,615 companies (97.5%) received an "unqualified" opinion. In contrast, 66 companies (2.5%) received a "non-unqualified" opinion, a level similar to the previous year. Of these, 58 companies received a "disclaimer of opinion" and 8 companies received a "qualified opinion."

The main reasons for the non-unqualified opinions were: uncertainty regarding the company’s ability to continue as a going concern; opening balance issues in the financial statements; and limitations on the scope of audits related to investments in subsidiaries and affiliates. Among the listed companies that received a "non-unqualified" opinion, 34 companies (51.5%) received such an opinion for two consecutive years.

In addition, 1,582 listed companies (98.0%) received an "unqualified" opinion on their internal accounting management system audits.

There were 33 companies (2.0%) with a "non-unqualified" opinion. By type, 22 companies received a "disclaimer of opinion" and 11 companies received an "adverse opinion." The main reasons cited were deficiencies in internal controls related to accounting, such as impairment or valuation of financial instruments and impairment of subsidiaries and affiliates.