New Audit Agreement Reached by China and U.S.Audit Agreement • October 17th, 2022
Contract Type FiledOctober 17th, 2022On 26 August 2022, the China Securities Regulatory Commission (CSRC) and China’s Ministry of Finance (MOF) executed a Statement of Protocol (SOP) Agreement with the U.S. Public Company Accounting Oversight Board (PCAOB), for purpose of setting out a cooperative mechanism between the China and U.S. governments for allowing the PCAOB to perform inspections and investigations against PCAOB registered accounting firms based in mainland China and Hong Kong who provide audit services to the Chinese companies listed in the U.S. stock markets.