On November 18, Quoc Cuong Gia Lai JSC announced that it had received a notice from the State Securities Commission of Vietnam (SSC) regarding its audited financial report for 2023.  

"The Board of Directors will work with a qualified audit firm for the 2024 financial report to meet standards for public interest entities and will provide updates to shareholders as soon as possible," said Nguyen Quoc Cuong, CEO of QCG.  

On November 13, the SSC issued a statement regarding QCG’s 2023 audited financial report. Based on the SSC's 2024 audit quality inspection at DFK Vietnam Auditing Company (DFK Audit), the findings revealed that auditors failed to comply with required audit procedures and did not gather sufficient and appropriate audit evidence to support their opinions in accordance with auditing standards.  

As a result, the SSC has decided to suspend the auditors responsible for signing QCG's 2023 financial audit report.  

Since 2020, DFK Audit has been QCG’s regular audit partner for its financial reports. However, the 2022 financial report was audited by UHY Auditing and Consulting Company Ltd.  

For the 2023 financial report, DFK Audit’s opinion stated that the report provided a fair and reasonable reflection, in all material aspects, of QCG’s consolidated financial position. It also asserted compliance with Vietnamese accounting standards, enterprise accounting regimes, and relevant legal regulations for report preparation and presentation.  

Anh Phuong