U.K. to Ease Audit Rules for Chinese Listings as London Battles IPO Slump

(London) — The U.K. will temporarily allow eligible Chinese companies listed in London to use their home auditing standards, easing compliance burdens as the city battles an IPO slump.

Finalized by the Financial Reporting Council in July, the two-year exemption takes effect Sept. 1. It allows Chinese issuers of global depositary receipts on the London Stock Exchange’s Stock Connect to bypass International Standards on Auditing.