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Tag: Audit

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First Inspections Find Massive Holes in Chinese Audits

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Regulators have released the results of their first inspections of audits of U.S.-listed Chinese companies, and they’re not pretty. Analyses revealed “unacceptable deficiencies” in audits performed by KPMG’s Chinese arm and PricewaterhouseC...

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SEC Taking an Interest in Accounting Enforcement

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The implosions of Silicon Valley Bank and Signature Bank this month may have come as a surprise to KPMG LLP, one of the so-called Big Four accounting firms. Both banks collapsed within two weeks of KPMG signing off on their audits. In the w...

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Audit Failures Lead to SEC Action Against Deloitte-China

Some auditors in the Chinese affiliate of Big Four accounting firm Deloitte have apparently been taking a unique approach to their work. Rather than evaluating their clients’ financial reporting, they let the clients audit themselves, accor...

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U.S. and China Finally Have an Audit Agreement, or Do They?

If you’re confused about where things stand in the squabble between U.S. regulators and Chinese authorities over auditing standards, you’re probably not alone. About a year ago, Securities and Exchange Commission Chair Gary Gensler sounded...

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Chinese Companies Delist from U.S. Exchange as Audit Conflict Persists

Hundreds of thousands of people from the United States travel to Taiwan in any given year, according to the island nation’s tourism bureau. For the average U.S. tourist, a stopover there during a tour of Asian countries wouldn’t seem unusua...

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