Developers, home buyers and Western bankers all ignored warning signs, but not two accountants who went looking for “financial anomalies” and “shenanigans.”
China Evergrande stood by its audited accounts after changes to its revenue recognition methodology from 2021 prompted analysts at GMT Research to say the firm was ‘never profitable’.
IAN WILLIAMS: On the outskirts of nearby Hangzhou, farmers were evicted to make way for a Chinese version of Paris. Elsewhere, China has built copies of Amsterdam, Venice and Madrid.
Sold short: USyd takes cash for comment
Apr 9, 2021 â 12.00am
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How much does it cost to launder your spin through the name of Australiaâs most prestigious business school?
The answer: far less than you might think. For a paltry $7272.27 all-inclusive, the University of Sydney Business School will even chuck in a series of non-disclosure agreements. What a steal!
The front page of The Sydney Morning Herald.Â
In December,
The Age and
The Sydney Morning Herald ran front exposes of the world of âshort and distort attacksâ, whereby foreign analysts produce malicious allegations of companies committing accounting fraud, in cahoots with fund managers who profit off the ensuing fall in the share prices of the targets. In recent years the practice has âcost investors billionsâ.