Chapter 1173: An Xinda

After the WorldCom scandal was exposed, although An Xinda claimed that the auditor's work relied on the honesty and integrity of management, no one could accept it.
If we all rely on the honesty and integrity of management, what else do we have to audit the company? Such an obvious account problem, changed the audit company, immediately reviewed it, and An Xinda nicknamed the world's top audit company, actually did not find it?
More people are willing to think that An Xinda is not discovered, but is in the same league with the management of companies such as WorldCom and Enron. Although there is no evidence yet, Anxinda has been detained with a hat that obstructs justice and made A fine of $500,000.
The area of ​​500,000 US dollars, apparently for the top auditing company such as An Xinda, their annual audit revenue is more than that. After all, they are the world's top accountant companies, just in North America, how many Fixed customers.
The most important thing is the second penalty. Within five years, An Xinda is not allowed to engage in related business in the country. As a result, An Xinda had to announce the
satisfaction
and they would abandon all the auditing business in the country and officially withdraw from the auditing industry. If you don’t have a customer for five years, why not keep it and still keep this business?
Then Anxinda began to withdraw in various offices in the country, and the company began large-scale layoffs. The number of employees has changed from nearly 30,000 to less than 3,000. Nearly 1,300 fixed customers before, and all of them canceled their contracts and transferred to other accounting firms.
After Enron’s outbreak, they had a must for An Xinda. Now that WorldCom has had an accident, everyone said that Anxinda’s audited company has problems with its accounts. Whoever dares to use Anxinda.
In fact, even if An Xinda is not punished and is not allowed to engage in related business, An Xinda will fall from the top of the world to the ordinary, but now it is even worse. From the buzzing international, it became notorious.
In order to cover up their audit problems, Anxinda ruined some of the audit information about Enron and WorldCom, whether it is a paper report or an electronic document, and it is very important. Obviously, this is indeed a hindrance to justice. Their downfall today is also self-defeating.
WorldCom has finished its production. This year, the stock price has just rebounded, and it has started to fall again. Because WorldCom is going bankrupt, even with companies that have many business contacts with WorldCom, stock prices have fallen.
For example, Nasdaq is one of WorldCom's major customers. There are also Time Warner, many political axe departments in the country.
There are so many creditors of WorldCom, and the accounts they have loaned to WorldCom are completely uncollectible.
This also led to the bank stocks began to fall, the stocks of investment institutions fell, and then triggered a chain reaction, the US stock market, once again unlucky.
Of course, in addition to the unlucky investors, Xiaobu 10 also feels unlucky.
Mom, he just reversed the economy a little. He signed so many contracts with foreign companies to settle the stock market. As a result, he went abroad for a visit, and then tm happened!
Then, Enron is still a WorldCom. At the beginning, it was all support for his competitors. It was also a loyal supporter of Clinton. Together with your scams, let me take the black pot.
Many state pensions are invested in companies such as Enron and WorldCom. Even if they don’t invest in the two companies and invest in other companies, isn’t it because the stock market crashed and lost?
The state pensions have lost hundreds of millions of dollars at the most, and the least have lost tens of millions of dollars. This is a big event that can shake the position of the cloth.
Xiaobu 10 wants to clean up WorldCom, but WorldCom has nothing to clean up, and it is already destined to finish, so Xiaobu 10 has been eyeing other customers of Anxinda.
If it can be proved that the previous prosperity was a false prosperity, it might be able to increase his support rate.
In the case of Xiaobu’s ten strict investigations, An Xinda’s clients actually found some problems.
Of course, all are financial issues, and also include several Fortune 500 companies. For example, Tektronix International, Kaimat, Tongtong Electric, Shile Company, etc., let Feng Yu did not expect that, even including Microsoft!
As for those outside the world's top 500, there is also one.
After the news broke out, not to mention that the stock prices of companies such as Microsoft began to fall, the entire rice market, including Asian and European stock markets, fell across the day.
Of course, on the other side of the country, the fall is the most serious, followed by Europe and Asia again. The average Asian decline is around 3%, Europe is around 5 percent, and the country is over 8 percent.
This is only one day, it seems that this decline will continue for some time.
Xiaobu was dumbfounded, and he felt that he had lifted his rock and licked his feet. Originally, he just wanted to transfer the public's accusations against him to the former Clinton. But there are too many scandals that have erupted now, as well as bank fraud, and securities analysts deliberately misleading consumers, all of which have been reported.
At this time, the country is in need of new impetus to promote their economic recovery. The continuous exposure of corporate financial scandals, including scandals by banks and securities companies, is very heavy on the economic recovery of the country.
Even with a lot of investors, the confidence in the entire rice investment market has been lost. Without these funds, the stock market is hard to rebound, how can the economy recover? Including national debt, they have been sold in large quantities.
The rice market is caught in the most serious bear market!
However, the stock markets in Europe and Asia have stabilized after falling for a few days. The funds that have been drawn back from the country have been invested in these places.
Xiaobu 10 this investigation, the most unfortunate is the rice country!
Now people say that the company ceo in the country is not credible, the accounting firm is not credible, the securities analyst is not credible, and can believe, perhaps only God.
Most of the companies with financial problems have problems with ceo. Many people say that some companies clearly make a profit, such as Microsoft, because of the worship of ceo in the society of the country and the worship of individual heroism. This is very undesirable and must be saved.
In order to save the market, Xiaobu Shizheng has issued a policy requiring all companies that have earned more than one billion dollars last year, ceo and cfo (CFO), to ensure that the company's latest financial statements are correct. In this way, if the financial statements are still wrong, they will face civil litigation of fraud, even criminal proceedings of political axe!
Wall Street is supporting this kind of practice. After the introduction of this policy, the Dow Jones index rose by more than 300 points on the day.
These Feng Yu did not care much. He was with Ralph and met with the chairman of Chaowei Semiconductor.
... (to be continued.)