Alexa

Chinese e-commerce giant Alibaba's accounting in SEC probe

Chinese e-commerce giant Alibaba says it is under investigation by U.S. regulators in connection with its accounting practices. The company disclosed the investigation by the U.S. Securities and Exchange Commission in a regulatory filing Tuesday.

Chinese e-commerce giant Alibaba's accounting in SEC probe

WASHINGTON (AP) -- Chinese e-commerce giant Alibaba says it is under investigation by U.S. regulators in connection with its accounting practices.

The company, whose digital platforms make up 80 percent of Chinese e-commerce, disclosed the investigation by the U.S. Securities and Exchange Commission in a regulatory filing Tuesday. Alibaba said the agency has requested documents and information related to its policies and practices for consolidating earnings and for related party transactions, among other things.

The company said it is cooperating with the investigation. Alibaba said it was told by the SEC that the request for information shouldn't be interpreted as an indication by the agency that the company has violated securities laws.

Alibaba went public in the U.S. in September 2014.


Updated : 2021-04-11 15:44 GMT+08:00