Chinese authorities are working with US counterparts to prevent Chinese companies being delisted from US stock exchanges, a Chinese regulatory official said on Thursday, as a lengthy dispute about auditing standards rumbles on.
US authorities are moving towards kicking foreign companies off American stock exchanges if their audits fail to meet US standards.
The Public Company Accounting Oversight Board (PCAOB) and US policy makers have long complained of a lack of access to audit working papers for US-listed Chinese companies. Citing national security concerns, Chinese authorities have been reluctant to allow overseas regulators to inspect working papers from local accounting firms.
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First Published: Nov 25 2021 | 10:37 AM IST