It's true that our reputation has been tarnished, sir. However, we have taken immediate steps to rectify the issue and prevent any further discrepancies from occurring. We have also cooperated fully with the regulatory authorities and have settled the legal proceedings.
Unfortunately, sir, it seems that Mr. Smith was intentionally manipulating the data. And the auditors did their due diligence in uncovering the fraud.
I can't believe this is happening. How could we have let this go on for so long?
I understand that, but we are a responsible company. We have always prided ourselves on our commitment to sustainability. How will this affect our reputation?
I understand. We need to make sure that we learn from this experience and ensure that our sustainability reporting is accurate and transparent going forward. I want to personally apologize to our stakeholders and assure them that we are committed to doing better.
We have agreed to pay a hefty fine and take necessary measures to rectify the issue, sir. It will be a significant hit to our finances, but it's the right thing to do.
What kind of settlement are we looking at?
That's a good start, sir. We also need to make sure that our internal controls are strengthened to prevent any such instances from occurring in the future. And we need to make sure that all employees are trained on their responsibilities in this regard.
Agreed. Let's get to work on that right away. And thank you for your help in navigating this difficult situation.