Beijing and Washington have reached a preliminary agreement to allow American officials to review audit documents of Chinese businesses that trade in the US, a first step toward avoiding the delisting of about 200 firms from New York.
As part of the deal, China will allow Public Company Accounting Oversight Board inspectors to access audit work papers and personnel, according to statements by US and Chinese regulators on Friday. They added that American inspectors plan to be on the ground by mid-September.
Leave a Reply