Izmedia "Disclaimer of Opinion... Will Resolve Through Objection and Reaudit"
[Asia Economy Reporter Hyungsoo Park] Izmedia announced on the 25th that it will "focus all capabilities to receive an unqualified opinion through objection and re-audit" regarding the refusal of opinion on the 2021 audit report.
Izmedia received a 'refusal of opinion' from the external auditor Han Young Accounting Corporation on the 23rd. Han Young Accounting Corporation explained that it was difficult to verify the appropriateness of accounting treatment regarding ▲golf apparel purchase transactions with TPA Fashion and ▲new business investments related to the NFT platform.
Companies notified of refusal of audit opinion can file an objection within 7 business days from the date of notification. Izmedia stated that it will proceed with the objection by the 13th of next month.
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A company official said, "We deeply apologize for the inconvenience and confusion caused to our shareholders," and emphasized, "All employees will do their best to resolve the reasons for delisting and to resume stock trading."
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