Four sources said that China has sent a regulatory official group to Hong Kong to assist the US audit and regulatory agencies on the on -site audit of Chinese companies.This is part of the significant agreement between China and the United States.
According to Reuters, three of them said that about 10 officials from the China Securities Regulatory Commission and the Ministry of Finance have arrived in Hong Kong and participated in the audit inspection at the beginning of Monday.
Four people familiar with the matter said that these officials will assist in a inspection team from the Accounting Supervision Commission (PCAOB) of the listed company of the US audit supervision agency (PCAOB) in Hong Kong for on -site inspections.
The representatives of the China Securities Regulatory Commission and the Ministry of Finance did not immediately respond to the comment request.
PCAOB spokesman refused to comment on Thursday.However, PCAOB Chairman Erica Williams said in his speech that officials at the agency had arrived in Hong Kong and began inspection.
She said that PCAOB has the only free tailoring of the company, audit business, and the potential illegal acts it inspected and investigated by it -there is no need to negotiate with relevant Chinese departments, nor do they need to provide opinions.
PCAOB announced on August 26 this year that it signed an audit supervision and cooperation agreement with the China Securities Regulatory Commission and the Ministry of Finance, which will go to China to review the audit draft in China in the United States in mid-9-- months.The China Securities Regulatory Commission stated on the same day that the signing of the agreement marked that the two parties have taken a key step in solving the issue of Sino -stock audit supervision through strengthening cooperation.
American and Chinese officials gathered in Hong Kong to marked a big step forward to implement the above audit agreement.
Two sources said that the state -owned China Southern Airlines and Data Center Wan Guo Data Holdings are among the listed Chinese companies listed in the U.S. listed Chinese company.
China Southern Airlines and IWC data have not responded to the request for comment.
According to last month, PCAOB has selected some Chinese companies listed in the United States for audit inspections, including e -commerce giants Alibaba Group and JD.com.
One of the four sources said that officials of the China Securities Regulatory Commission who have been negotiating with the United States who have been negotiating with the United States are expected to be at the interview site of PCAOB with company staff.
Two sources also said that the entire inspection process will last about eight to ten weeks, which will be with the US Securities and Exchange Commission (SEC) chairman Gary Gensler.The statement is consistent.However, Williams said on Thursday that time eventually depends on China's level of cooperation.
It is unclear whether Chinese officials will participate in the inspection process with PCAOB representatives.
Another sources familiar with the matter said that the participation of Chinese regulators is consistent with the way PCAOB checks in other parts of the world, and US regulators have not given any special considerations in China.
China and the United States have always been deadlocked on the audit draft of China Enterprises.The United States seeks to obtain a complete audit text of Chinese companies listed in the United States, and China refuses on the grounds of national security.Until December last year, the US Securities and Exchange Commission (SEC) provided regulations on the delisting of Chinese enterprises in accordance with foreign companies' accountability laws and pushed this issue to a higher point.
