Please ensure Javascript is enabled for purposes of website accessibility
February 7, 2023

The PCAOB Is Really, Really Serious About Checking Chinese Auditors’ Work

Oh are we still on this?:

The head of the U.S. audit watchdog said on Wednesday his organization may need to resort to enforcement actions against auditors based in China if they fail to hand over documents to U.S. regulators.

Jim Doty, head of the Public Company Accounting Oversight Board, told the U.S. Securities and Exchange Commission that enforcement "will be an increasing priority" if the SEC and PCAOB cannot end an impasse with Chinese regulators over access to audit work.

 

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

Turns Out Cohen & Company Auditors Are Human After All

Breaking news: Cohen & Company made a mistake on one of its audits inspected by the PCAOB. Big deal, you’re probably thinking, audit firms screw up all the time—some more than others. (We’re looking at you, BDO USA.) But Cohen & Company had perfect auditing report cards from the PCAOB for 2018, 2019, and 2020. […]

RSM US Finally Might Be Taking Audit Quality a Little More Seriously, According to 2021 PCAOB Inspection Report

Based on the 2021 PCAOB inspection reports we’ve reviewed so far, the audit firm that would win the “most improved” award is RSM US. From 2017 to 2020, RSM had an average yearly audit failure rate of 42%, including failing 46% of its audits reviewed by PCAOB inspectors in 2020. But during the most recent […]