Some irregularities and disciplinary violations were found in the financial statements of 17 centrally administered state-owned enterprises (SOEs) for the 2009 fiscal year, according to audit reports released by the National Audit Office (NAO) on May 20.

Assets worth about 1.9 billion yuan ($292.4 million) and profits of 2.63 billion yuan ($404.6 million) were overstated in the financial statements of those SOEs, while 3.43 billion yuan ($527.7 million) in liabilities were falsely included, according to the NAO reports.

Also, profits of 1.2 billion yuan ($184.7 million), assets worth 2.9 billion yuan ($446.2 million) and liabilities of 2.5 billion yuan ($384.6 million) were undercounted, according to the NAO.

Some of these SOEs, including CHALCO, Sinosteel, Sinochem, China Three Gorges Corp., China South Industries Group, COFCO, and China Southern Power Grid, confirmed the audit's findings and said they are taking measures to fix the problems.