Accounting problems are detected in two S-chip firms in Singapore, namely: China Hongxing Sport and Hongwei Technologies. Coincidentally, the financial auditor of those 2 businesses is Ernst & Young LLP.It's mentioned that the auditor is confronting difficulty in determining certain assets, liabilities, and expenses. Information and facts is as below:
Hongwei Technologies- the auditor is experiencing issues in verifying the cash and bank balances
China Hongxing- the auditor mentioned problems in the cash and bank balances, accounts receivables, accounts payables, and various expenses
The board of directors have employed independent investigator in resolving the concerns outlined by Ernst & Young LLP.
China Hongxing- the auditor mentioned problems in the cash and bank balances, accounts receivables, accounts payables, and various expenses
The board of directors have employed independent investigator in resolving the concerns outlined by Ernst & Young LLP.
