U.S. SEC warns against switching auditors to avoid Chinese company trading bans
U.S. accounting firms that agree to lead audits of New York-listed Chinese and Hong Kong companies looking to avoid potential trading bans risk breaching U.S. rules, the U.S. Securities and Exchange Commission (SEC) warned on Tuesday.
Analysis: U.S., China audit agreement not yet a done deal, lawyers warn
There was much relief for investors in U.S.-listed Chinese firms after Beijing and Washington struck a long-pending audit deal, but legal experts and China watchers warn the two sides could still clash over how the accord is interpreted and implemented.
