An audit of the Asian Infrastructure Investment Bank, done internally by AIIB audit personnel, found no evidence of undue influence from the Communist Party of China arm of Peoples Republic of China government.

The AIIB is not just PRC-backed, though, it’s PRC-led. That means that we can take the audit—which lasted all of 10 days—seriously and at face value.

The PRC audited itself, and over nearly a week-and-a-half period, but the outcome is completely believable.

Don’t look behind the curtain to see that the PRC holds 26.6% of AIIB’s shares, giving it an effective veto over major decisions, since AIIB’s major decisions require a 75% supermajority.