Chinese Official Rejects American Regulation of Auditing

Posted on November 15th, 2011

The battle-of-words between US auditing regulators – still in their infancy after being hurriedly invented by Congress just ten years ago – got hotter this week with a Chinese economic official’s harsh words. He indirectly accused the PCAOB of “politicizing the matter.”

Senior Shanghai Stock Exchange official Zhou Qinye made the startling statement in this Reuters news story, suggesting companies unhappy with the growing expense of US regulation of capital markets are welcome to relocate their business activity to China. Will any actually do it?

Additional coverage from Accountancy Age…

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