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Wednesday, May 25, 2016, 22:00

Alibaba's accounting in SEC probe

By Associated Press

Alibaba's accounting in SEC probe
In this March 17, 2014 file photo, people walk past a company logo at the Alibaba Group headquarters in Hangzhou, Zhejiang province. (Chinatopix via AP, File)

WASHINGTON — Chinese e-commerce giant Alibaba says it is under investigation by US 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 US 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 US in September 2014.

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