U.S. regulators released their first inspection reports for two Chinese auditors Wednesday, finding both to have “unacceptable rates” of deficiencies in their examinations of Chinese companies that are publicly listed on U.S. exchanges.
The Public Company Accounting Oversight Board, which oversees audits of public companies, first secured complete access to inspect Chinese auditors in 2022, following the passage of a new law that requires U.S. stock exchanges to delist foreign companies that refuse to allow the PCAOB to oversee…
