On November 18, Quoc Cuong Gia Lai Joint Stock Company (HoSE: QCG) informed that it had received a document from the State Securities Commission regarding the company's audited financial statements for 2023.

“The Board of Directors will work with the auditor for the company's 2024 financial statements to ensure that they meet the standards and conditions for auditing for public interest entities and will be announced to shareholders as soon as possible,” informed Mr. Nguyen Quoc Cuong - General Director of QCG.

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A real estate project of Quoc Cuong Gia Lai in Ho Chi Minh City. Photo: TL

Previously, on November 13, the State Securities Commission (SSC) issued a document informing about QCG's audited financial statements for 2023.

The State Securities Commission said that according to the results of its 2024 audit service quality inspection at DFK Vietnam Auditing Company Limited (DFK Auditing Company), the audit records showed that the auditors had not fully performed the audit procedures and had not collected sufficient appropriate audit evidence to express an opinion as required by auditing standards. Therefore, the State Securities Commission will suspend the auditors from signing the audit report on QCG's 2023 financial statements.

From 2020 to present, DFK Auditing Company is the regular auditor hired by QCG to audit financial statements. QCG's 2022 financial statements are audited by UHY Auditing and Consulting Company Limited.

In QCG's 2023 financial report, the auditor of DFK Auditing Company believes that the report has honestly and reasonably reflected, in all material aspects, the consolidated financial situation of the company, in accordance with Vietnamese accounting standards, corporate accounting regime and legal regulations related to the preparation and presentation of this report.

Sitting in the 'hot seat', Mr. Cuong 'dollar' lent Quoc Cuong Gia Lai a large sum of money

Sitting in the 'hot seat', Mr. Cuong 'dollar' lent Quoc Cuong Gia Lai a large sum of money

After replacing his biological mother Nguyen Thi Nhu Loan as General Director of Quoc Cuong Gia Lai Company, Mr. Nguyen Quoc Cuong lent the company 30 billion VND.
Sitting in the 'hot' seat, Mr. Cuong 'dollar' was prosecuted for a project related to Van Thinh Phat.

Sitting in the 'hot' seat, Mr. Cuong 'dollar' was prosecuted for a project related to Van Thinh Phat.

After directly answering questions from Quoc Cuong Gia Lai shareholders, Mr. Nguyen Quoc Cuong promised to try to ensure the company's smooth operation and hoped for shareholders' support.
Before returning to run Quoc Cuong Gia Lai, how did Cuong 'dollar' do business?

Before returning to run Quoc Cuong Gia Lai, how did Cuong "dollar" do business?

After officially withdrawing from Quoc Cuong Gia Lai, from 2018 to present, Mr. Nguyen Quoc Cuong has built his own career by establishing companies and doing business in many fields.