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Yamada Green auditors reconciled figures with banks after fire burned records

YAMADA Green Resources, a China-based mushroom producer that had most of its recent financial documents destroyed in a fire last year, on Sunday said an independent auditor has matched the total cash balance of its China subsidiaries' bank accounts for fiscal 2017, with various bank statements.

Yamada announced last year that in August, a transport vehicle had gone up in flames while ferrying financial documents and computing equipment.

The company said then that a large part of its fiscal 2017 and 2018 financial documents for subsidiaries and part of the FY2010 to FY2016 financial documents for subsidiaries were likely to have been affected by the fire.

The documents included payment and receiving vouchers, invoices and bank advice, as well as back-ups stored on computer equipment.

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The matching done by Deloitte showed that the Chinese subsidiaries held 4.71 million yuan (S$981,874) in cash as at June 30, 2017. The figure was matched across physical and online statements from the banks as well as with the Chinese units' historical bank statements provided by the company.

The financial year for Yamada runs from July 1 to June 30 of the next year. The auditing firm noted that the bank balances would exclude cheques that were not posted until after June 30, 2017.

Deloitte further showed "no exceptions" in material transactions, Yamada said. Material transactions refer to any transactions worth at least 100,000 yuan.