PwC, KPMG to Host US Inspections of China Firms in H.K.: SCMP

PwC Hong Kong and KPMG China are the first accounting firms that will help US regulator carry out inspections of the audit work of US-listed Chinese companies, South China Morning Post reports, citing two unidentified people.

• Public Company Accounting Oversight Board inspectors will work at the two accounting firms’ Hong Kong offices when they carry out audit inspections of several of mainland Chinese companies
• PwC and KPMG have already prepared the paper and electronic audit materials to be made available and auditors are ready to be interviewed by the PCAOB inspectors upon request
• Inspectors from PCAOB haven’t yet arrived ...