The big four accounting companies – KPMG, EY, PwC, and Deloitte – are back in China, writes Beida accounting professor Paul Gillis at his website ChinaAccountingBlog. The method of counting market share has changed, but Gillis sees around 20% growth, he says.
Tag Archives: Paul Gillis
The Hong Kong IPO of China’s success story Xiaomi disappointed greatly. Beida accounting professor Paul Gillis explains at Quartz why the investors did not buy the company’s valuation. “I think it is hard for investors to buy the valuation.”
Five years ago Hong Kong, once a center of international finance, was demoted by the European Union as a financial regulatory area on a similar footing. Beida accounting professor Paul Gillis applauds that after five years the HK legislators start to move to reform the auditors, but feels the action is far from enough, he writes on his weblog.
Spinoffs are typically business transactions where the total of all entities increase their value by splitting up their existing business. But not so for Chinese companies, listed in the US, argues Beida accounting professor Paul Gillis. Not the shareholders or the company gains, but mostly management, he explains at his weblog.
China’s financial authorities might be wary of Bitcoins and other digital currencies, but the country is embracing the underlying blockchain technology. Self-driving cars, agriculture, retail and other industries use the deep pockets of the government to introduce the new technology.
At the China Speakers Bureau, we offer a range of speakers who can help you to make sense out of this new direction China is taking, leading the way for global innovation.
ZTE got itself into trouble by violating a ban on using American components for products it exported to Iran and North-Korea. The punishment – no US components for ZTE for seven years – might kill the Chinese company, who cannot work without them. What did the auditors do, wonders Beida auditing professor Paul Gillis on his weblog.
Who to turn for advice to now US president Donald Trump seems to be heading for a trade war with China – and the rest of the world? A few experts at the China Speakers Bureau have started to make sense out of the erratic behavior of the leader of the world’s largest economy. Making sense out of what the world’s second-largest economy will do will only be slightly easier.
Beida accounting professor Paul Gillis describes on his weblog how auditor KPMG Hong Kong got itself into trouble for signing off papers on China Medical, a company convicted in 2012 for looting US$400 million from its investors. Problem: KPMG Hong Kong was not really in charge and now the Hong Kong legal system caught up with this omission.
Many Chinese companies took a listing at US exchanges because audits in Hong Kong and on mainland exchanges were stricter. The HK stock market now is watering down regulations for audits, notes Beida accounting professor Paul Gillis on his website to his shock, to pull back those Chinese companies from the US.