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saltocan

3,790 Posts.

05/07/16

19:44

Post #: 18199786
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Originally posted by juancarlos ↑

Dr Paul Gillis a professor of accounting at Peking University in China has written a very interesting article about cash auditing of Chinese listed companies.

http://www.chinaaccountingblog.com/weblog/auditing-cash-in-china.html

In summary:

1. Excessive cash holdings on balance sheets often indicate fraud.

2. The cash may not exist. Local bank officials can provide false confirmation to auditors.

3. Corruption in the banking sector is a problem.

4. The Chinese audit process is flawed and unreliable.

DYOR

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This is old news...Over 5 years ago.....
Long before sbb was born.....
Things have changed since.......auditors have adjusted.....

This issue played out 5years ago...
Do we really believe this can happen...
Dyor

SBB Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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