China-US audit fiasco ends in auditor fines
The SEC has fined some of China’s largest auditors for failing to supply paperwork from US-listed Chinese companies. It underlines a longstanding stalemate, but not everyone believes the outcome is positive.
The Securities and Exchange Commission (SEC) has claimed a victory after compelling four China-based accounting companies to admit they had refused to hand over important trading documents of Chinese companies listed in the US. The news is part of a tense standoff between China and the US over the supply of corporate information.
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