ERNST & YOUNG POSTS UNQUALIFIED-OPINION AUDIT REPORT FOR ICBC
AsiaInfo Services, October, 2004
AsiaInfo Services 10-11-2004 Ernst & Young Posts Unqualified-Opinion Audit Report for ICBC BEIJING, Oct 11, 2004 (SinoCast via COMTEX) -- Ernst & Young, the famous international accounting firm, recently presented an unqualified-opinion audit report for 16 branches of the Industrial and Commercial Bank of China (ICBC), one of China's biggest state lenders, according to the spokesperson of ICBC. The total assets of the 16 branches account for 63% of those ofICBC.
In line with Ernst & Young's audit report, the audited cumulative non-performing loans of the 16 branches on December 31, 2003 are largely in accord with the financial data by ICBC itself. Ernst & Young states that ICBC has made long strides in enhancing the transparency of financial...
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