China Oil & Gas Group (HK:0603) has released an update.
China Oil & Gas Group Limited is taking decisive steps to enhance its internal control systems by incorporating regular training for accounting staff, revising control mechanisms over financial reporting, and allocating more resources to monitor internal procedures. These measures are in response to previous financial reporting errors and aim to improve the quality and reliability of financial information. The initiative includes a comprehensive review of high-risk areas such as gas pipeline project contracts and a commitment to address any identified control deficiencies.
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