Children's charity refutes money laundering suspicions (2)

CCAFC's deputy secretary-general Wang Lin said the foundation has worked out measures to rectify its financial system.

Wang said the CCAFC will set up a special committee to invite charity experts to supervise its work, as well as designate a day to open the foundation to the public.

Beijing Zhongzheng Tiantong Certified Public Accountants, a company responsible for auditing the CCAFC's finances in 2011, on Thursday admitted in a statement that it failed to detect the mistake and apologized for its negligence.

The controversy emerged after political pundit Zhou Xiaoyun posted the group's financial statement on Sina Weibo, a popular microblogging website, raising suspicions that it had engaged in money laundering.

Citing the financial statement, which he said he had acquired legally, Zhou questioned the whereabouts of 4.8 billion yuan listed as cash payments.

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