g What are the key conditions or circumstances that must be present for a company to be "auditable"? What uncommon challenges to "auditability" are posed by Chinese companies?

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Business

Jayleen Gregory

17 May, 05:16

g What are the key conditions or circumstances that must be present for a company to be "auditable"? What uncommon challenges to "auditability" are posed by Chinese companies?

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Answers (1)

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Pooky · Answer 1

Answer: Chinese firms provide incomplete information for auditing.

Explanation:

The circumstances for the audit of a company are:

1. If it's a public company except it's dormant.

2. A subsidiary company that is within a group.

3. A legalised insurance company.

4. Involved in issuing e-money or banking.

5. A corporate body whereby its shares have been bought or sold on a regulated market in any European state.

Some of the auditability challenges posed by Chinese firms are series of frauds and incomplete information required for audit which are provided by the Chinese companies.