The U.S. Securities and Exchange Commission has been struggling to obtain papers from China to investigate possible accounting fraud at dozens of Chinese companies listed on U.S. stock exchanges. China has resisted for years turning over documents because of state-secrets and sovereignty concerns. The China Securities Regulatory Commission (CSRC) is now ready to transfer audit papers to the SEC, and the Public Company Accounting Oversight Board (PCAOB), a CSRC spokesman said, confirming local media reports. He did not identify the company in question, or say when the handover will take place. [Reuters]
When it comes time to think about leaving public accounting, which happens for 99% of public accountants except for those brave and oddly-programmed individuals who are cut out for the partner track, one of the foremost considerations in any exasperated public accountant’s mind is: how can I do this without burning bridges? From the time […]
Our favorite convicted felon and career advice-giver, Sam Antar, the former CFO of Crazy Eddie, had some things to say on Twitter about the current state of audits in a reply to a tweet from Francine McKenna about EY and the Wirecard accounting scandal: I’m going to make this plain and simple:•Audits are a myth.•It […]
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