A Number Of Exposed Central Enterprises Responded To Audit Reports

The Audit Commission recently released 17 central enterprises.

A spokesman for the SASAC said he hoped that the leaders of the enterprises would strictly control the non productive expenditure and reduce the management cost.

Respond to

CNNC

Member unit investment must be approved by the group.

The problems reflected in the report of the Audit Commission, except for the fact that the main companies such as grade three and below are continuing to be cleaned up, have largely been rectified.

With regard to the accounting and financial management of some units in the group, because of the large scale of external debts and long repayment period of some enterprises, the principle of accounting treatment has always been adopted. Only the difference between the real exchange rate and the book exchange rate of the current year is recognized as the exchange gains and losses and is included in the current income. The converted balance of unexpired foreign currency debt is included in the long-term liabilities.

At present, the new accounting standards have been standardized, and the relevant accounting accounts and statements have been adjusted for multiple liabilities, less owners' equity and multiple profits.

With regard to the problems existing in the investment project management of some units, the relevant responsible persons have been dealt with and are taking measures to recover the losses.

In view of the related problems, the group company promulgated the document, stipulates that the investment of the member units must be approved by the group company and regulate the investment management.

With regard to the salary and welfare management of employees in some units, the nuclear group has instructed its subordinate units to carry out rectification. The recovered tax has been recovered, and the personal income tax has been paid for the supplementary tax. The approval procedures have been reprocessed and the relevant systems have been revised.

China South Industries Group Corporation

Pay tax on R & D expenses

For accounting problems, group companies and related enterprises adjust the relevant accounting accounts and statements one by one.

In view of the fact that Baoding Print-Rite violated illegal research and development expenses for individual awards, it should be ordered to regulate the bonus distribution channels and pay the corresponding taxes.

In regard to the economic matters related to the payment of taxes and fees, the group company and the relevant units have made the declaration to the local tax authorities separately and have paid the tax.

With regard to the irregularities related to audit disclosure, group companies have dealt with the relevant leaders and responsible persons seriously, and given administrative sanctions and financial penalties.

The funds that have been recovered should be recovered in full, and the unpaid income has been refunded in full.

The group companies further regulate the investment behavior on the existing risk problems.

In response to the risks of Print-Rite's new energy investment, it has instructed its parent company to adjust the board of directors of overseas companies, appoint the chairman of the board, increase personnel and technology input, and ensure that the project will be put into production as soon as possible, so as to reduce the risk to controllable.