PCAOB Secures Complete Access to Inspect Chinese Firms

Hurrah! The U.S. Public Company Account Oversight Board (PCAOB) today announced that for the first time in history, PCAOB has successfully obtained complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong. This major milestone in U.S. and Chinese regulators’ mutual efforts to protect investors is welcome news for Chinese companies listed in U.S. markets, but it is just the beginning of the PCAOB’s work in China, not the end. Gary Gensler, chair of the SEC, stated “Chinese authorities will need to give PCAOB full access for inspections and investigations in 2023 and beyond.”

Read PCAOB’s announcement here: https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-secures-complete-access-to-inspect-investigate-chinese-firms-for-first-time-in-history