Understanding China, One Blog at a Time

An American in China

Chinese Company Sells ‘Vaporware” Financials to America

Posted by w_thames_the_d on January 6, 2012

Some Chinese company who found Americans who were dumb/innocent to really believe anything that comes from here, has been dumped by KPMG for financial irregularities. Excerpt”Jan. 6 (Bloomberg) — China Forestry Holdings Co., the Chinese timber company whose shares have been suspended since January last year because of accounting irregularities, said its auditor KPMG LLC resigned, citing valuation concerns… “cast serious doubt over the authenticity and reliability of records and documents”
Hmmm, is this the part where we are supposed to feign shock that those humble little Chinese, the ones whose not so nimble fingers are behind the production of the lead filled glasses that we obtain at a discount from McDonalds, are actually fibbing to us about their financial state?
Who wuold believe that a people who find nothing wrong with feeding their own rations of lead,, cadmium and other toxins just so they can earn a penny, would deceive us…
Story from herehttp://www.businessweek.com/news/2012-01-06/china-forestry-auditor-kpmg-resigns-citing-valuation-concerns.html

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