PCAOB, CSRC and Ministry of Finance Sign Accounting Oversight Cooperation Agreement

A very positive step!

On Friday, the Public Company Accounting Oversight Board (PCAOB) signed a Statement of Protocol with China’s Securities Regulatory Commission (CSRC) and Ministry of Finance governing inspections and investigations of audit firms based in China and Hong Kong.

Thru put begins next month.

For reference:
• From PCAOB – https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-signs-agreement-with-chinese-authorities-taking-first-step-toward-complete-access-for-pcaob-to-select-inspect-and-investigate-in-china
• From CSRC (EN) – http://www.csrc.gov.cn/csrc_en/c102030/c5572272/content.shtml
• From SEC – https://www.sec.gov/news/statement/gensler-audit-firms-china-hong-kong-20220826