Thursday, January 23, 2014

"China Auditors Barred for Six Months for Blocking SEC Probes"

It's actually the Chinese affiliates of U.S. accounting firms that are barred,

"The auditors are caught between U.S. law, which requires them to turn over all documents requested by regulators, and Chinese law, which prohibits transferring data to foreign parties that might contain state secrets."
See the administrative law decision on these auditors released yesterday.

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