Analysis: Accounting risk clouds big U. S. business bets in China
NEW YORK/HONG KONG (Reuters) – Tales of shady business practices abound in China – fake revenues, phony invoices, sham factories – but until recently, the problem seemed confined mostly to Chinese companies. No longer. Concern is growing about risks to U. S. -based multinationals in a country where American audit regulators are locked out by the Chinese government and bribery and fraud are routine. Questions about transparency and integrity weigh heavily on China, the world’s second-largest economy, as it assumes greater economic leadership and responsibility. . . .
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