After the WorldCom scandal was exposed, although Anxinda claimed that the work of auditors depended on the honesty and integrity of management, no one could accept it. Pen & Fun & Pavilion www.biquge.info

If it all depends on the honesty and integrity of management, what else do we need to audit the company? Such an obvious accounting problem, after changing the audit company, it was immediately reviewed, and Anxinda vainly claimed to be the world's top audit company, but it was not discovered?

More people are willing to think that Anxinda is not undiscovered, but is in the same boat with the management of Worldcom, Enron and other companies, although there is no evidence for the time being, but Anxinda has been labeled as obstructing justice and fined 500,000 US dollars.

A mere $500,000 is obviously a drop in the bucket for a top audit firm like Anxinda, and their annual income from any audit is more than that, after all, they are the world's top accounting firms, and in North America alone, how many regular clients do they have.

The most important thing is the second penalty, Anxinda is not allowed to engage in related business in the United States for five years. As a result, Anxinda had to announce "interestingly" that they would give up all their audit business in the United States and officially withdraw from the audit industry. If you don't have customers for five years, why do you keep this business without quitting?

Then Anxinda's offices in the United States began to be closed, and the company began to lay off employees on a large scale. The number of employees went from nearly 30,000 to less than 3,000. Nearly 1,300 of the previous regular clients also terminated their contracts with them and switched to other accounting firms.

After the Enron affair broke out, they had a problem with Anxinda. Now that WorldCom has had an accident again, everyone says that the accounts of the company audited by Anxinda have problems, and who would dare to use Anxinda.

In fact, even if Anxinda had not been fined and not allowed to engage in related businesses, Anxinda would have fallen from the world's top to ordinary, but now it is just a little worse. From international fame, to notoriety.

In order to cover up their audit problems, Anxinda destroyed some of the audit materials about Enron and WorldCom, whether it was paper reports or electronic documents, and they were all very important. Obviously, this is indeed an obstruction of justice, and they are also to blame for their downfall today.

WorldCom is finished, and the stock price has just rebounded this year, and now it has begun to fall again. Because WorldCom is about to go bankrupt, the stock prices of companies that have a lot of business dealings with WorldCom have fallen.

For example, NASDAQ is one of WorldCom's big customers. There is also Time Warner, many political axe departments in the United States, etc.

There are still so many creditors of WorldCom Company, and the accounts they lent to WorldCom Company cannot be recovered at all.

This also led to the decline of bank stocks and the fall of investment institutions, which then triggered a chain reaction, and the US stock market was once again unlucky.

Of course, in addition to the bad luck of investors, Xiao Bu Shi also felt unlucky.

Damn, he just turned the economy around a little, and it took so many contracts signed by the Mi company with foreign countries to stabilize the stock market, and as a result, he just went abroad to visit, and something happened again!

So what is Enron or WorldCom, they were all competitors who supported him at the beginning, and they were also loyal supporters of Clinton, and they used it together to cheat money with you, and now let me carry the black pot?

The pensions in many states are invested in the stocks of Enron, WorldCom and other companies, even if they don't invest in these two companies and invest in other companies, isn't it because the stock market has fallen sharply and then lost money?

The state pension has lost hundreds of millions of dollars at most, and tens of millions of dollars at least, which is a big thing that can shake Xiaobu's position.

Xiao Bu Shi wanted to clean up the Worldcom, but the World Com had nothing to clean up, and it was doomed, so Xiao Bu Shi set his sights on other customers of Anxinda.

If it can be proved that the prosperity of the previous session was a false prosperity, it may be able to increase his approval rating.

In the case of Xiaobu Shi's strict order to investigate deeply, some problems were really found among Anxinda's customers.

Of course, it's all financial, and it also includes several Fortune 500 companies. For example, there are more than a dozen companies such as Tektronix International, Kaimart, Tongyong Electric, and Scheller, but what Feng Yu didn't expect was that it also included Microsoft!

As for those outside the world's top 500, there is also a piece.

After the news broke, not to mention that the stock prices of Microsoft and other companies began to fall, the entire United States stock market, including Asian and European stock markets, fell across the board on the same day.

Of course, on the side of the United States, the fall was the most serious, followed by Europe, and Asia again. The average decline in Asia is about 3 percent, in Europe is about 5 percent, and in the United States, it is more than 8 percent.

This is only one day, and it seems that this decline will continue for some time.

Xiao Bu Shi was dumbfounded, he felt like he had lifted a stone and hit himself in the foot. Originally, he just wanted to shift the public's blame for him to his predecessor, Clinton. But now there are too many scandals that have erupted, as well as bank fraud, securities analysts deliberately misleading consumers, etc., all of which have been reported.

At this time, the United States is in need of a new impetus to promote their economic recovery, and the financial scandals of companies that can be continuously exposed, including the scandals of banks and securities companies, are a very heavy blow to the economic recovery of the United States.

Even with many investors, confidence in the entire investment market has been lost, without these funds, it is difficult for the stock market to rebound, how can the economy recover? Including Treasury bonds, which have been heavily sold.

The U.S. stock market has fallen into the worst bear market!

However, the stock markets in Europe and Asia stabilized after a few days of falling, and all the money withdrawn from the United States was invested in these places.

Xiaobu Shi's investigation, the most unlucky is the rice country!

Now people say that the CEO of the company in the United States cannot be trusted, the accounting firm cannot be trusted, the securities analyst cannot be trusted, and the only one who can believe may be God.

Most of the CEOs of companies with financial problems also have problems, and many people say that some companies are even making profits but still cheating, such as Microsoft or something, because of the worship of CEOs and individual heroism in the American society. This is highly undesirable and must be saved.

In order to save the market, Xiaobu Shizheng has introduced another policy that requires all CEOs and CFOs (chief financial officers) of companies with revenues of more than one billion dollars last year to guarantee in writing that the company's latest financial statements are correct. In this way, if the financial statements are still wrong, then they will face a civil lawsuit for fraud, or even a criminal case for political axe!

Wall Street supported such an approach, and the Dow Jones rose by more than 300 points on the same day after the policy was introduced.

And Feng Yu doesn't care much about these, he is meeting with Ralph to meet with the chairman of Chaowei Semiconductor.

…… (To be continued.) )