“Accounting Irregularities Are the Norm in Chinese Companies Listed in the USA”

File this under, “Not shit? As if I couldn’t figure this out”. China is the land of deceit and bribes, so why should it not be true in Chinese companies listed in the USA?

excerpt:

“Jim Chanos, who uncovered the accounting fraud at Enron nearly a decade ago, says that accounting irregularities are more the norm than the exception at the Chinese companies researched by his firm, Kynikos Associates.”

I recommend checking your portfolio for any Chinese companies and do your due diligence.