Latest News:  

English>>Foreign Affairs

China, U.S. sign memo on audit files access


11:38, May 25, 2013

BEIJING, May 24 (Xinhua) -- China and the United States have signed a cooperation memorandum agreeing to share audit and accounting records of concerned companies, marking an important step in cross-border coordination of such probes.

In a statement, China Securities Regulatory Commission (CSRC) and the Ministry of Finance (MOF) said they had signed an agreement with the U.S. Public Company Accounting Oversight Board (PCAOB) earlier this month to share audit records.

In recent years, a string of accounting scandals at dozens of Chinese firms listed in the U.S. has led to trading halts and investigations, prompting the two sides to coordinate efforts to address loopholes in the cross-border regulation system.

"The latest move lays down a good foundation for further cooperation in cross-border investigations," the statement said.

The CSRC and MOF said they will continue to work with the PCAOB to discuss how to supervise Chinese auditors of U.S.-listed Chinese companies in ways that are acceptable to both sides.

Email|Print|Comments(Editor:HuangJin、Wang Jinxue)

Leave your comment0 comments

  1. Name


Selections for you

  1. Li gives speech at luncheon in Zurich

  2. Li visits Guldenberg farm in Switzerland

  3. Snipers complete military skill training

  4. City lit up during Vivid Sydney

  5. Xi’an to tackle river pollution

  6. Anxious city: Crowded morning bus

  7. Hot tempo of the city: I love Salsa!

  8. Shanghai Disney Resort to open in 2015

  9. Children's Day celebrated in low-carbon way

  10. Lenovo posts record results

Most Popular


  1. Not enough attention paid to neurological diseases
  2. Why Chinese youths appear gloomy
  3. Let taxi fare reform be fair
  4. Beijing taxi fare rise hardly seen as all-win solution
  5. Hope and concerns for civilian drone industry
  6. Exchange rate reform may take time
  7. Stricter elevator rules needed
  8. Job market not that bad for grads
  9. US IT restriction act fails to charm industry
  10. 'Asia's future hinges on China and India'

What’s happening in China

Couple say 'I do' after 35-year wait

  1. 85,000 affected as heavy rainfall hits in C China
  2. China to fight counterfeit products, piracy
  3. 73 days of acid rain recorded in Macao in 2012
  4. Most Chinese satisfied with gov't H7N9 response
  5. Shanghai metro campaign fights obscenity