Wed, Sep 3, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials, Fund Management/Administration

Closer Look: Audit of CIC Shows Its Corporate Governance Must Be Enhanced

Posted on 20 June 2014

China Investment Corp. (CIC), the country’s US$ 575 billion sovereign wealth fund, has been blamed by the state auditor for flaws in its management of both domestic and overseas investment projects, leading to losses. On June 18, the National Audit Office issued a report on CIC’s operations in 2012. It criticized CIC for a series of irregularities in investment assessments, subsidiary operations, and personnel and financial management.
Internal and external supervision are crucial for a sovereign wealth fund like CIC. The auditor’s report rings the alarm and should prompt the sovereign wealth fund to reexamine itself. However, assessing the investment performance of a sovereign wealth fund is not straightforward………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 14666 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

September 2014
M T W T F S S
« Aug    
1234567
891011121314
15161718192021
22232425262728
2930