(1) the recently identified falsity of the Company's financial records in relation to cash at bank and loan balances (and possibly in sales revenue)
What I found shocking is that it appears that auditors don't even know how to verify something as simple as cash in bank accounts in China. And this is not a fly by night auditor. An investment in any Chinese company requires a giant leap of faith if something as simple as cash in the bank cannot be verified properly.
1 comment:
everyone will be working for China in 20 years. Point of no return now.
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