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Audit Regulator IDs China Firms Whose Clients Face Delisting

Dec. 17, 2021, 12:18 AM

The U.S. audit regulator on Thursday announced it has been unable to inspect or investigate audit firms in mainland China and Hong Kong, moving companies audited by these firms one step closer to getting kicked off U.S. stock exchanges.

The report, issued as part of the Public Company Accounting Oversight Board’s Rule 6100, says the audit regulator has no access to more than 60 audit firms in China and Hong Kong—despite years of efforts in Washington to check the work of auditors who review company books. The report is a key part of the PCAOB’s effort to implement a 2020 ...