US and China reach audit deal, but limitations apply
The US and China have agreed to allow the US accounting watchdog to access audit papers of US-listed Chinese firms alleged of fraud. A handful of the major accounting firms were holding off supplying the information for fear of breaking Chinese law.
After a standstill of more than two years, regulators of the US and China announced last Friday in Beijing that US accounting watchdog can access papers in China related to enforcements against auditors of US-listed Chinese firms, but its request to routine inspection of audit firms in China was denied.
Sign-in to access CorporateTreasurer content.
Please sign in to your subscription to unlock full access to our premium CT resources.
Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial. Click the link to get started.
Note: This free trial is a one-time offer. You are eligible for one free trial per year.
If you are a treasurer, CFO or senior finance professional at a corporate, please register to the website here.
Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.