All Things Newz
Business

U.S., Beijing near deal to let U.S. inspect Chinese company records in Hong Kong – WSJ


Article content

The United States and China are nearing an agreement allowing American accounting regulators to travel to Hong Kong to inspect audit records of U.S.-listed Chinese companies, the Wall Street Journal reported on Thursday.

Securities regulators in Beijing are making arrangements for Chinese companies listed in New York and their accounting firms to transfer audit working papers and other data from China to Hong Kong, the report added, citing people familiar with the matter.

Article content

Regulators from the U.S. Public Company Accounting Oversight Board (PCAOB) would then go to perform on-site inspections.

The PCAOB did not immediately respond to a Reuters request for comment. (Reporting by Tiyashi Datta in Bengaluru: Editing by Sriraj Kalluvila)



Source link

Related posts

Gold subdued on dollar strength, Fed rate-hike jitters

U.S. expanding monkeypox testing capacity as cases rise -source

Menē Inc. Announces Signing of Asset Purchase Agreement