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| Subject: Gang of Five China auditors charged | Date: 12/4/2012 5:51 AM | |
| Author: TMFCogitarius | Number: 5139 of 5166 | |
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At last... 'The US financial regulator has charged the Chinese units of five accounting firms - including the so-called Big Four - over refusing to hand over auditing data on China-based companies. The companies are under investigation by the Securities and Exchange Commission for "potential accounting fraud against US investors". The nine China-based firms are publicly traded in the US. An administrative law judge will schedule a hearing on the matter soon. The five firms are the Chinese affiliates of the Big Four - Deloitte Touche, Ernst & Young, KPMG and PricewaterhouseCoopers - as well as the accounting firm BDO's China unit.' http://www.bbc.co.uk/news/business-20587401 ---------------- MDP Home Fool |
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