PCAOB

Image: Gerd Altmann, Business (Publicdomainpictures.net)

The U.S. House Committee on Oversight and Accountability is investigating whether the Public Company Accounting Oversight Board (“PCAOB”) is “empowered to ensure meaningful oversight of auditors of [China]-based firms”. The Committee should welcome a document recently released by China’s State Council that aims at improving the country’s capital markets by strengthening information disclosure, among other measures. Interestingly, the Supreme People’s Court of China has taken steps that, if followed consistently by all courts in the country, can empower this document.Read more