AsiaFinance and InsuranceShipyards

Deloitte reviewing its position in Korea in wake of DSME fraud

The fraud that has rocked Daewoo Shipbuilding & Marine Engineering (DSME) looks set to shake up the local accounting scene.

An official from Deloitte Anjin, the joint venture accounting firm employed by DSME, was arrested a couple of weeks ago as investigators unravel the scandal that cost the South Korean shipyard billions of dollars and has forced it into a painful restructuring.

The global accounting firm Deloitte is now reportedly looking at severing its ties with Korean partner Anjin in the wake of the furor surrounding DSME. Anjin has worked with Deloitte since 2002.


Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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