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Showing posts with the label International Standards on Auditing

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Further evidence that all Chinnese state-owned enterprises are related parties to each other

 As translated from the official website of Chinese government  below, it's not difficult to see that SASACs under the uniformed leadership of Chinese Communist Party or Communist Party of China are positively coordinating activities with each other. Local SOEs must be considered as related parties to central SOEs as well as to both local and central governments of China. Investors must pay special attention to whether Chinese enterprises have fully disclosed related party transactions to make an informed decision. On January 9, the State-owned Assets Supervision and Administration Commission of the State Council of China convened a meeting of the heads of the local SASAC and the directors of the office of the local state-owned enterprise reform leading group by video, summarizing the work of state-owned assets and state-owned enterprises in 2021, and clarifying the key tasks in 2022. Hao Peng, Secretary and Director of the Communist Party Committee of the State-owned Assets ...

US PCAOB: Multinationals Stay in China to let China Cover up their Accounting Fraud and Manipulate Consolidated Financial Statements

 According to the records of US PCAOB , China helped Elon Musk to cover up accounting fraud and staying in China could help Tesla manipulate consolidated financial statements by blocking PCAOB's access to auditor working papers in China. Numbers in the consolidated financial statements=numbers in the parent company's financial statements+numbers in the subsidiaries' financial statements+adjustments-cancellations of inside related party transactions. PricewaterhouseCoopers Zhong Tian LLP (1424) – China's working papers on TESLA, INC. CIK (0001318605) have been denied access of US PCAOB for three consecutive years from 2018 to 2020. The auditor's papers on Emerson's China business from 2017 to 2021 for 5 consecutive years have not been inspected by the PCAOB of the United States. As the US PCAOB cannot check the audit papers of the China and Hong Kong branches of the four major international accounting firms, the audit issues of the China and Hong Kong branches o...

Abpro helped with Communist China's Propaganda on COVID-19 Antibody

  Abpro helped with China's Propaganda On February 2, 2021, Abpro announced a positive first phase result, proving that ABP 300 has good safety and pharmacokinetic characteristics. ABP 300 is a neutralizing antibody therapy for the treatment of COVID-19. It is based on the paper co-authored by Zhiming Yuan, director of the P4 laboratory of Wuhan Institute of Virology, Yun Peng, Yanfeng Yao and others of the Wuhan Institute of Virology and personnel of Mabwell (Shanghai) Bioscience Co., Ltd., whose experiments were completed in the National P4 Laboratory of the Wuhan Institute of Virology. This paper was supported by the CCP's national key research and development funds.  ABPRO's Infectious Diseases Advisory Board: Daniel Kuritzke, Director of the Infectious Diseases Department of Brigham and Women's Hospital, Professor of Harvard Medical School, former Vice President of Bristol-Myers Squibb, Steven Schnittman, Head of NIAID/NIH's HIV Medical Department, Merck , Bris...

9 December 2021 Covid19 is related to military bioweapon program of China; Genocide was Held to Be True by UK Tribunal and condemned by US Congress and Cash Flow to China was Cut off

  (Picture source: Daily Mail) Daily Signal: EXCLUSIVE: Chinese Virologist Says Communist Regime Targeted Her for Exposing COVID-19 Origin BARRON: UYGHUR TRIBUNAL concluded that, despite the absence of large-scale mass killing, the People’s Republic of China has committed genocide on the ground of Article 2d of the UN General Convention US Congress: Condemning the ongoing genocide and crimes against humanity being committed against Uyghurs and members of other religious and ethnic minority groups by the People's Republic of China. BBC: China's detention camps: Held in chains for using WhatsApp Financial Times: US to blacklist Chinese AI company SenseTime over Xinjiang ahead of IPO Financial Times: Bitcoin mining nears record pace as industry shrugs off China clampdown Financial Times: ‘Essentially dead’: China closes off foreign investors’ route into tech deals   Le Canard républicain:  Japan Health Ministry issues warning of potential heart problems fro...