The Motley Fool Discussion Boards

Previous Page

Motley Fool Global Gains / GGM: Global Gains Philosophy


Subject:  Gang of Five China auditors charged Date:  12/4/2012  5:51 AM
Author:  TMFCogitarius Number:  5139 of 5166

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.'
MDP Home Fool
Copyright 1996-2022 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us