China and U.S. are committed to reach audit deal, Chinese regulator says -Breaking
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© Reuters. FILEPHOTO: Flags from the U.S. and China are seen flying outside of a building belonging to an American company, Beijing. January 21st 2021. REUTERS/Tingshu Wang/File PhotoBy Xie Yu
HONG KONG (Reuters), – China, the United States and China are determined to find an agreement regarding the audit inspection question that is consistent with both the legal and regulatory requirements of each side. The announcement was made Wednesday by China’s securities regulator.
China Securities Regulatory Commission’s (CSRC), issued the following statement in response to a U.S. Securities and Exchange Commission official stating that “significant issues remain” when it comes to a deal regarding U.S.-listed Chinese company auditors.
YJ Fischer (SEC international affairs chief) stated that the accounting agency would have to finish China audit inspections before Nov. 22, in order to meet a deadline set by the U.S. for non-compliant Chinese companies to be delisted by 2023.
“We have maintained our belief that the issue of audit inspection should be resolved through cooperation on the principle of equality. The CSRC released a statement Wednesday stating that its attitude was always constructive and positive.
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