US and China reach preliminary deal on corporate audit inspections – Markets Insider

• The US and China on Friday reached a preliminary deal to allow American inspectors to audit Chinese firms.
• US inspectors may travel to China and Hong Kong to start their examinations in September.
• Further non-compliance with US rules will put about 200 companies at risk of US delistings.

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The US has reached a preliminary deal with China that would allow American regulators to inspect the auditing records of Chinese companies listed in the US, an agreement that may keep shares of about 200 companies trading in New York.

Among the terms, the US Public Company Accounting Oversight Board will be able to see complete audit work papers without any redactions and inspectors will have direct access to take…

Read Full Story: https://markets.businessinsider.com/news/stocks/china-us-stocks-audit-inspections-delistings-sec-hong-kong-reviews-2022-8

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source: https://news.oneseocompany.com/2022/08/26/us-and-china-reach-preliminary-deal-on-corporate-audit-inspections-markets-insider_2022082628485.html

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