"Enronitis delights local auditors"

The Economist, March 21, 2002

Synopsis:
The closing case of Chapter 19 discusses the complex and often obtuse nature of China's rapidly evolving accounting system. This article explains why the belief that China's unique characteristics require a unique regulatory system still prevails despite the commitment of the China Securities Regulatory Commission (CSRC) for international accounting standards last December. This article also discusses why the debate over accounting systems in China should focus on the courts, the media and market participants themselves rather than on the role of the CSRC.

Full-text Article: http://www.economist.com/printedition/PrinterFriendly.cfm?Story_ID=1049853&CFID=708438&CFTOKEN=86526061&

Case connection: "China's Evolving Accounting System" in Chapter 19 (pp.607-609).

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