China Unlimited

[surfer44]

The company needs to fix their internal controls. Good they acknowledged that.

China Lending Corporation Retains Deloitte to Assist with Internal Controls and Sarbanes-Oxley Compliance
Source:?? Author:chinalending Date:04-05-2017
BEIJING & URUMQI, March 29, 2017 /PRNewswire/ – China Lending Corporation ("China Lending" or the "Company") (Nasdaq: CLDC), a leading non-bank direct lending corporation servicing micro, small and medium sized enterprises (MSME), currently underserved by commercial banks in China, today announced that the Company has engaged Deloitte Touche Tohmatsu ("Deloitte") to assist the Company with certain matters in connection with its internal controls and Sarbanes-Oxley ("SOX") compliance.


Mr. Albert Lyu, Chief Financial Officer of China Lending, commented, "The objective of Deloitte's engagement is to assist the Company with an independent assessment of the managerial, operational and internal controls of the Company. The independent assessment will cover the areas of the Company's corporate controls, financial reporting and disclosure controls, and SOX compliance. In addition, Deloitte will provide suggested recommendations to further improve our internal controls. We look forward to working closely with Deloitte to further improve the effectiveness of our business processes and embrace good corporate governance and risk control measures to ensure the full compliance with the requirements of the Sarbanes-Oxley Act."

Ms. Jingping Li, Co-founder and Chief Executive Officer of China Lending, added, "As China Lending views the commitment to best practices in corporate governance as an integral part of enhancing shareholder value, we expect the engagement to give us access to Deloitte's highly specialized resources with experience in internal audit, risk and compliance management to meet our growing regulatory compliance needs as we continue to expand our scale and scope."