Fitch expects more China corporate fraud accusations and investigations

Chinese companies will continue to be hit by corporate fraud accusations and investigations as the country struggles to improve corporate governance standards, Fitch Ratings said on Monday.

The credit rating agency said that Chinese companies have an above average risk of facing fraud allegations, though not all will be legitimate.

Fitch said last week it was reviewing the 35 Chinese companies that it assigns credit ratings to after a spate of allegations of corporate fraud at other China companies.

The report highlights recent worries over accounting irregularities at Chinese companies that were sparked by claims of fraud at some that are listed in the U.S.

Read Full Article from Globe and Mail

- Posted: 2011-07-18 12:06:38

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