Delisting from U S bourses poses negligible long-run risks to Chinese companies, says expert--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
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The Public Company Accounting Oversight Board published a proposed rule designed to create a framework for determinations to be made under the Holding Foreign Companies Accountable Act passed last year (HFCAA). That Act amends the Sarbanes-Oxley Act of 2002 or SOX which mandates that the PCAOB conduct inspections of registered accounting firms that audit companies whose shares are traded in the United States.
While the Board has conducted the required inspections for years, there is an exception – China. The PRC government and the China Securities Regulatory Commission or CSRC have steadfastly declined to permit the required inspections with few exceptions.
A United States accounting oversight board proposed a draft rule to advance the implementation of legislation to remove foreign firms, from the US stock exchang
Washington DC [US], May 16 (ANI): A United States accounting oversight board proposed a draft rule to advance the implementation of legislation to remove foreign firms, from the US stock exchange that did not comply with American accounting standards.
Morgan Stanley (MS.N) cautioned on Friday against exposure to U.S.-listed Chinese tech firms after the U.S. accounting watchdog moved a step closer to removing non-compliant Chinese companies from American exchanges.