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The Latest Breaking News from PCAOB

PwC employees cheating on tests in China just cost the auditing firm $7 million in U.S. fines

U.S. regulators alleged that PwC's employees in mainland China and Hong Kong shared answers on exams meant to test knowledge of U.S. auditing practices.

Fortune

22 years after the $63 billion Enron collapse, a key audit review board finds the industry in a 'completely unacceptable' state

In 2001, the Big Five became the Big Four, and now the PCAOB again finds "audit quality is moving in the wrong direction"—a 40% error rate.

Fortune

The crypto industry is embracing self regulation. It’s time Washington gets on board

Proof-of-reserve measures aren't a substitute for standard audits. They make them better.

Fortune

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U.S. Audit Watchdog to Start New Round of Inspections in Hong Kong

Reviews will involve work of EY, Deloitte, PwC and others in HK and on mainland with officials from CSRC and Finance Ministry assisting

Caixin Global

Exclusive-China sends regulators to Hong Kong to assist U.S. audit inspection -sources

Beijing has sent a team of regulatory officials to Hong Kong to assist the U.S. audit watchdog with onsite audit inspections involving Chinese companies, four people familiar with the matter said, as part of a landmark deal between the two countries.

Reuters

U.S.-China Audit Deal Won't Slow Hong Kong Dual Listing Train, Analysts Say

Key Takeaways: Despite a landmark U.S.-China information-sharing agreement, some predict dual listings in New York and Hong Kong will remain the preferred choice for Chinese stocks UBS estimates Hong Kong Stock Exchange trading volume could rise up to 25% if all U.S.-traded Chinese stocks delist from New York and move…

Benzinga

With audit deal, China delisting risk ebbs — for now

The deal could prevent Chinese companies from being booted off U.S. stock exchange.

Axios

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China, U.S. Stock Regulators Hope New Agreement Will Succeed Where Others Haven't

Key Takeaways:

Benzinga

200 Chinese Stocks Have Until December To Comply With US Standards Or Risk Delisting: SEC's Gensler Says 'Proof Will Be In The Pudding'

An agreement reached Friday between the United States and China would permit American accounting officials to visit Hong Kong to review the audit records of Chinese companies listed on U.S. exchanges.

Benzinga

Economy and Society: July 19, 2022- Missouri Treasurer challenges ESG impact on public pensions

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

November Looms Large for U.S.-Listed Chinese Firms Facing Delisting

Nearly 200 firms could be booted from U.S. exchanges if accounting watchdog PCAOB cannot complete its audit investigations into them by that time, an SEC official says

Caixin Global

US Regulators Reach China For Audit Deal Discussions: Reuters

U.S. regulatory officials arrived in Beijing seeking to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, Reuters reported, citing sources. The stand-off, if not resolved, could see Chinese firms kicked off New York bourses. This week the SEC added over 80 firms to the list of companies…

Benzinga

EV Maker Li Auto Among 17 New Chinese Firms Facing Risk Of Getting Delisted In US

Li Auto Inc (NASDAQ: LI) is among 17 new U.S.-listed Chinese companies added to the U.S. Securities and Exchange Commission’s Holding Foreign Companies Accountable Act (HFCAA) list.

Benzinga

A Draft of "Severability First Principles" is Now Available

For several years, I have been thinking about the doctrine of severability -- what happens when courts conclude that a part of a law is unconstitutional? I have come to believe that this is fundamentally just a question about "say[] what the law is," as Marbury v. Madison put it.…

Reason

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Caixin Global

Editorial: Seeking a Solution to China Concept Stocks’ Trouble

Beijing and Washington are making joint efforts to meet legal and regulatory requirements, making arrangements to protect the legitimate rights and interests of global investors, and promote the healthy development of the markets

Benzinga

What's Going On With Zai Lab, Hutchmed, BeiGene Shares Today

Three of the most major drugmakers with roots in China, Zai Lab Ltd (NASDAQ: ZLAB), BeiGene Ltd (NASDAQ: BGNE), and Hutchmed China Ltd (NASDAQ:

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