Audit Quality and Investor Protection under the Holding Foreign Companies Accountable Act

  • US_SEC Image

Oct 26, 2022

The Securities and Exchange Commission (SEC) published a statement by acting chief accountant Paul Munter regarding audit quality and investor protection under the Holding Foreign Companies Accountable Act.

In light of uncertainty involving the PCAOB's recent agreement with Chinese authorities, certain China- and Hong Kong-based issuers may be attempting to structure audit engagements with registered public accounting firms located either in the U.S. or elsewhere to avoid the potential of consecutive PCAOB HFCAA determinations and a potential resultant trading prohibition.

Review the statement on the SEC's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.