Failure of Control Environment of Daewoo Shipbuilding & Marine Engineering Co., Ltd.

IF 0.1 Q4 BUSINESS

Asian Case Research Journal Pub Date : 2019-12-01 DOI:10.1142/s0218927519500238

Hansol Lee, S. Eun, H. Y. Lee, Gitae Park

引用次数: 0

Abstract

In July 2015, one of the biggest shipbuilding and marine engineering companies in Korea, Daewoo Shipbuilding & Marine Engineering Co., LTD (DSME), suddenly reported operating losses of 2.73 billion USD, resulting in chaos and frustration of investors and market participants. The announcement of this huge loss was the result of an accounting fraud conducted by the management team. Adam Kim, the former CEO of the company, concealed 4.5 billion dollars of losses by manipulating the accounting performances. This case exemplifies the results of the weak control environment. This paper examines the consequences of the weak control environment and ineffective monitoring activities of DSME.

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有限公司大宇船舶海洋工程有限公司控制环境失效。

2015年7月，韩国最大的造船和海洋工程公司之一大宇造船海洋工程有限公司（DSME）突然报告营业亏损27.3亿美元，导致投资者和市场参与者陷入混乱和沮丧。宣布这一巨额亏损是管理团队进行会计欺诈的结果。该公司前首席执行官Adam Kim通过操纵会计业绩隐瞒了45亿美元的损失。这种情况说明了弱控制环境的结果。本文研究了DSME的薄弱控制环境和无效监测活动的后果。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asian Case Research Journal BUSINESS-

CiteScore

0.10

自引率

0.00%

发文量

期刊介绍： The Asian Case Research Journal"s principal objective is to provide case instructors, whether academics, consultants, or company in-house trainers, a selection of high-quality cases on Asian companies and MNCs operating in Asia-Pacific. These cases, not having been previously published, provide a fresh and topical pool of cases for teaching purposes. The cases are either decisional — that is, requiring some business decision from the reader — or illustrative in nature, such as reasons for a firm"s success. The cases come from various business disciplines including strategic management, marketing, organizational behavior/human resources, operations management, and MIS. All cases have been double blind refereed to ensure quality.