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US Accounting Regulators Demand Complete Access to China-Based Audits

The U.S. accounting audit regulator delivered a warning regarding the integrity and complete access to work papers of accounting firms of New York-listed Chinese companies.
Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams made the remarks on Sept. 22 at the Council of Institutional Investors (CII) Fall Conference.
She emphasized, “Voluntarily delisting is not an escape hatch for avoiding PCAOB scrutiny. Our inspections and investigations are retrospective.”
Audits
The PCAOB inspects and investigates registered public accounting firms in more than 50 jurisdictions around the world.
But, for more than a decade, access in China and Hong Kong has been “restricted, potentially putting investors at risk,” said Williams….



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