4 ms·

Odds of a financial scandal in the next year?

• bb2018 8y ago
  That was my instinct too.
• jonknee 8y ago
  He was the chairman, not a day to day guy who would know about such things.
• dmix 8y ago
  Unlikely? > As Alibaba has flourished, Mr. Ma has talked many times about how he did not want to spend his whole life at the company, saying he would retire one day and go back to teaching.
• eip 8y ago
  "You couldn't successfully audit a good sized publicly held, domestic US Car Dealership for the fees that PWC Hong Kong charges to audit a global enterprise like Alibaba" "I have no idea how PWC can audit this mess for the fees they charge. Every year, the hours of work required expand geometrically and the fees come in at about what you'd charge to audit a large US/Domestic publicly traded Car Dealership. Keep this in mind, Alibaba now has 920 Operating Units (Did I mention that?) scattered all over the globe, a massive Capital Structure "Enhancement", with many of these WFOE's and VIE's located in the PRC and all of these entities are audited from the PWC Hong Kong office. If I were trying to audit this we'd have substantial travel, staff time and training on both IFRS and GAAP accounting treatment and methods. All to be researched and applied to myriad business combinations, sales, mergers and divestitures. Incredibly, PWC Hong Kong does the whole thing, including tax services and consulting for US$12.8 million dollars ($13,900 per business unit @ US$12.8 million/920), up from US$ 8.4 Million the prior year. PWC is the the new "Dollar Store" of public accounting." https://deep-throat-ipo.blogspot.com/2018/08/the-baba-20-ffinancial-comedy-gold.html https://deep-throat-ipo.blogspot.com/2018/08/the-baba-20-ffi...
• tvanantwerp 8y ago
  More like, odds of Jack Ma "falling" off a cliff?