TWO MORE CHINA-BASED companies are suspected of accounting shortcomings, both of which are in the portfolio of major regional investor Carlyle.
Concord Medical Services and China Energy Recycling have come under the scrutiny of key auditors, Reuters reports, although the potential problems are thought to be less serious than high-profile cases such as China Agritech, which was de-listed from the Nasdaq for failing to file its annual report on time.
Ernst & Young said that Concord Medical Services lacked staff with knowledge of US accounting rules, meaning that internal financial reporting controls were compromised.
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