Jack Ma-chaired Alibaba announces investigation into accounting practices

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Chinese e-commerce firm Alibaba Group announced on 24 May the US Securities and Exchange Commission (SEC) was investigating the company’s accounting and other practices.

According to the filing, the SEC requested that Alibaba voluntarily provide the regulator with documents and information relating to the company’s consolidation policies and practices, including its accounting for Cainiao Network as an equity method investee.

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