Overseas Accountant Firms Win Licenses for China ServicesArthur Andersen & Co., Deloitte Touche Tohmatsu, Ernst & Whinney and two other overseas accounting firms were granted temporary licenses, Wednesday, to act as auditors for financially listed firms by Chinese authorities.The licenses issued by the China Securities Regulatory Commission and the Ministry of Finance have a validity of one year. China's securities regulatory rules require that banks, securities houses and other financially listed firms employ a domestic and overseas accounting company to audit their accountant reports. |
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