Caixin
Sep 17, 2022 05:05 AM
FINANCE

U.S. Regulator to Review Chinese Audit Documents Next Week in Hong Kong

Nearly 170 Chinese companies traded on U.S. exchanges have been identified by U.S. regulators as facing delisting as soon as 2023 for failing to comply with the law
Nearly 170 Chinese companies traded on U.S. exchanges have been identified by U.S. regulators as facing delisting as soon as 2023 for failing to comply with the law

Members of the U.S. audit watchdog depart for Hong Kong Friday to start a review of audit documents for American-traded Chinese businesses under an agreement reached last month to resolve a longstanding dispute between the two countries.

The inspections by the U.S. Public Company Accounting Oversight Board (PCAOB) will start next week and last eight to 10 weeks in Hong Kong, according to U.S. Securities and Exchange Commission Chairman Gary Gensler. The PCAOB officials will then have to decide whether they got sufficient access to sign off on Chinese companies as compliant.

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