Have you got any evidence that Chinese audits are now foolproof?
Auditors don't visit the bank branch. They send out a verification form. A corrupt bank employee simply has to sign off and it is accepted by the auditor.
You seem to have missed the point that excessive cash on the books is always a red flag to auditors. There are very few plausible reasons for a company to sit on a huge amount of cash.
Most Australian mortgage providers have recently stopped lending to Chinese nationals. The reason is because of the widespread use of false documents provided by Chinese bank and stockbrokers. These are not counterfeits. They are genuine account statements with false balances provided by corrupt employees.
So the provision of false bank balances by Chinese banks is still a serious issue in 2016.
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