SEC and Chinese Audit Firms “Settle” for the Status Quo

This settlement appears to send the SEC right back where it started: unable to review the work papers of Chinese audit firms without the consent of Chinese regulators. The settlement also appears to be a complete win for the audit firms. They are no longer required to produce documents directly to the SEC and risk violating China’s state secrets laws, and they no longer have to fear being barred from appearing before the SEC – at least not for the next four years.

 

 

Curated from China Auditor Update: SEC and Chinese Audit Firms “Settle” for the Status Quo : Global Regulatory Enforcement Law Blog