China, U.S. reach deal on audit records: WSJ
Posted: Sat May 25, 2013 4:47 pmChina, U.S. reach deal on audit records: WSJ
LOS ANGELES (MarketWatch) -- In a breakthrough to a long-running dispute, China has agreed to allow its accounting firms to give U.S. regulators access to relevant records, The Wall Street Journal reported early Friday, saying the deal was due to be announced later in the day. The agreement allows the U.S. Public Company Accounting Oversight Board to see audit records and other documents held by Chinese auditors, the report said. However, the agreement doesn't cover a Securities and Exchange Commission request for direct access to the documents for use in fraud investigations, the report said.
LOS ANGELES (MarketWatch) -- In a breakthrough to a long-running dispute, China has agreed to allow its accounting firms to give U.S. regulators access to relevant records, The Wall Street Journal reported early Friday, saying the deal was due to be announced later in the day. The agreement allows the U.S. Public Company Accounting Oversight Board to see audit records and other documents held by Chinese auditors, the report said. However, the agreement doesn't cover a Securities and Exchange Commission request for direct access to the documents for use in fraud investigations, the report said.