China Closes Deloitte’s Beijing Office Over Serious Audit Deficiencies

The Chinese government suspended operations at the western-linked auditor Deloitte Touche Tohmatsu Ltd.’s Beijing office for three months after finding “deficiencies” in its auditing work for China Huarong Asset Management.

According to Bloomberg, the Chinese finance ministry carried out a thorough assessment of Deloitte’s auditing of bad debt manager Huarong. This evaluation included on-site inspections, personnel interviews, a complete review of documentation, and even a hearing.

The ministry found the big four accounting firm had “serious audit deficiencies” in its work with Huarong between 2014 and 2019.

The People’s Liberation Army’s “Unrestricted Warfare” manual, which was released in February 1999, is being used to defeat America by weaponizing everything, including lawyers and balloons.

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