Case ID: HKU827     Solution ID: 34481

Lantian Stock Case Solution

Abstract

Lantian Stock was China's first state-claimed rural endeavor to have experienced the corporatization change in mid 90's. Since its posting in 1996, Lantian Stock had recorded an astonishing execution in its money related articulations. Notwithstanding, in October 2001, its brilliant picture was crushed by a scholastic scientist, Liu Shuwei with her capable 600-word article that called attention to the liquidity emergency of Lantian Stock. ded in distorting and executing bookkeeping extortion. Chinese media likewise unHence, all banks in China declined to stretch out credits to the organization. Then, Liu confronted slander indictment raised by the organization who at first denied the charge. The criticism charge was dropped in the end as the Chinese controllers started to disclose the concealed truth that Lantian Stock had without a doubt inclucovered the questionable foundation, legendary stories and the past misrepresentation record of Lantian Stock. Since Liu could reveal the error taking into account some essential budgetary proportion examination, she stayed suspicious concerning why such wrongdoings had not been found by related gatherings before. On the other hand, the examining or CPA firm of Lantian Stock remarked that the extortion was imperceptible as it had gone a long ways past what CPAs could find from its obliged method, and pointed the finger at it on the Chinese environment that was helpful for bookkeeping misrepresentation. Was the situation of Lantian Stock embarrassment as what the CPA had asserted?


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