Asean Summit, Malaysia on Nov 21, 1015

Asean Summit, Malaysia  on Nov 21, 1015
Asean Establishes Landmark Economic and Security Bloc
"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - Text version)

“….. Here is the prediction: China will turn North Korea loose soon. The alliance will dissolve, or become stale. There will be political upheaval in China. Not a coup and not a revolution. Within the inner circles of that which you call Chinese politics, there will be a re-evaluation of goals and monetary policy. Eventually, you will see a break with North Korea, allowing still another dictator to fall and unification to occur with the south. ….”

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

North Korean defector criticises China in rare Beijing talk

North Korean defector criticises China in rare Beijing talk
North Korean defector and activist Hyeonseo Lee, who lives in South Korea, poses as she presents her book 'The Girl with Seven Names: A North Korean Defector’s Story' in Beijing on March 26, 2016 (AFP Photo/Fred Dufour)

US under fire in global press freedom report

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …

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Thursday, November 10, 2011

Analysis: Olympus scandal puts auditors under scrutiny

Reuters, by Dena Aubin and Taiga Uranaka, NEW YORK/TOKYO | Thu Nov 10, 2011

Olympus's logo is seen through its waterproof housing at an electronics
shop in Tokyo October 20, 2011. (Credit: Reuters/Kim Kyung-Hoon)

(Reuters) - Olympus Corp's use of accounting tricks to hide big losses has raised questions about whether its auditors, the Japanese arms of global giants KPMG and Ernst & Young, should have done more to follow up on red flags.

The Japanese maker of cameras and medical equipment shocked investors on Tuesday, admitting it had used payments to merger advisors and venture capital funds to cover up securities losses dating back decades.

Japan's Financial Services Agency will investigate whether Olympus's auditors knew about the hidden losses or were negligent in their checks, a source with knowledge of the matter told Reuters.

Ernst & Young ShinNihon LLC, which took over as Olympus auditor in 2009, declined to comment, citing client confidentiality. KPMG AZSA LLC, which audited Olympus for several years through to 2009, also declined to comment.

A severe penalty would send shivers through the auditing industry in Japan, still reeling from a series of scandals that led to a two-month suspension of ChuoAoyama Pricewaterhouse Coopers in 2006 and the disbanding of its successor firm in 2007.

Ernst & Young ShinNihon is Japan's largest auditor with more than 4,000 clients and 3,000 certified public accountants.

"If it (suspension of an audit firm) happens because they did look over the misstatement intentionally or without due care, its impact would be enormous," said Yoshinori Kawamura, accounting professor at Waseda University's School of Commerce.

"However, regulators now have more moderate regulatory tools for false audits, which did not exist in 2006," Kawamura added, noting that a 2008 law change meant auditors could escape suspension and face heavy fines instead.

Olympus has provided few details of its accounting maneuvers but says the original scheme to hide investment losses went back to at least the 1990s, when it was being audited by Asahi & Co. Olympus says an independent investigation commissioned by the company is continuing.

Asahi was the Japanese affiliate of Arthur Andersen before Andersen collapsed amid a U.S. accounting scandal. Asahi became a member firm of KPMG International in 2003 and then merged with AZSA & Co in 2004 to form KPMG AZSA LLC.


Olympus removed KPMG AZSA as its group auditor in 2009 after a dispute over how to account for some controversial acquisitions. The camera-maker decided not to disclose this to the stock market, an internal document obtained by Reuters showed.

Instead, Olympus told investors at the time that KPMG's audit contract had expired and it was hiring Ernst & Young.

The problems at Olympus burst into the open when ousted chief executive Michael Woodford said he had questioned excessive advisory payments made by Olympus for its $2.2 billion acquisition of British medical device firm Gyrus in 2008. Olympus paid $687 million in advisory fees, about one third of the purchase price, versus investment banking norms of about 1 to 2 percent.

Olympus on Tuesday said some of those fees were "used in part" to help hide losses on investment securities.

KPMG's British arm, which audited the subsidiary accounts of Gyrus, questioned the accounting treatment of some of the fees and whether Cayman Islands-based AXAM Investments Ltd, which received a big part of the fees, was a related party to Olympus.

However, KPMG AZSA signed off on Olympus's group accounts without qualifications.

When it took over, Ernst & Young also raised questions about AXAM in auditing Gyrus's accounts but gave Olympus group a clean bill of health.

It is not unusual for an auditor to qualify a subsidiary's accounts in one country and give the parent located elsewhere an unqualified green light if the issue raised is not deemed material to the consolidated accounts, accounting experts said.

But some accounting and legal experts said the inflated advisory fees should have prompted a more critical review of Olympus accounts.

"Maybe KPMG AZSA accountants thought it wasn't important," said Shinji Hatta, a professor at Aoyama Gakuin University's Graduate School of Professional Accountancy in Tokyo.

"But it was important, and overlooking this in my opinion is a grave issue in terms of auditing."


Both Ernst & Young and KPMG have grappled with problem clients before.

KPMG paid multi-million-dollar settlements over its audits of New Century Financial, a mortgage lender that collapsed during the U.S. housing crisis, and Xerox, a copier-maker accused of manipulating its accounting in the late 1990s.

Ernst & Young has been sued over its audits of China-based Sino-Forest, once the biggest forestry company listed on the Toronto Stock Exchange.

It also still faces a lawsuit by the New York attorney general alleging it helped Lehman Brothers engage in a massive accounting fraud before its 2008 bankruptcy helped trigger the 2008-2009 global financial crisis. Ernst & Young says it acted properly.

In that case, Ernst & Young is accused of standing by while Lehman repeatedly moved up to $50 billion off its balance sheet at quarter ends. The maneuver, dubbed "Repo 105," helped hide Lehman's financial problems before its downfall, New York prosecutors allege.

The Olympus scandal also renews long-standing questions about the structure of audit firms, which brand themselves as global networks but in fact are made up of legally separate firms to limit liability when one member gets in trouble.

The main auditor watchdog in the United States has been looking into whether the global networks are properly supervising their disparate arms and ensuring quality.

"We have been spending a lot of time on our inspection process as we look at the global-firm audit in determining how seamless it is," James Doty, chairman of the Public Company Accounting Oversight Board, said on Tuesday.

Japanese politicians are also taking renewed interest in the audit industry in light of the Olympus scandal.

"We may need to reassess the accounting system as a whole if auditors were unable to fully point out problems their clients were involved in," said Natsuo Yamaguchi, head of New Komeito, Japan's second-largest opposition party.

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