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Chinese and U.S. regulators enter into cooperative agreement

  • PCAOB (US Public Company Accounting Oversight Board) Image

May 24, 2013

The China Securities Regulatory Commission (CSRC), the Ministry of Finance (MoF) of China, and the PCAOB have announced a cooperative agreement on the oversight of audit firms subject to the regulatory jurisdictions of both regulators.

The Memorandum of Understanding (MOU) allows for the mutual exchange of confidential information of firms performing in both jurisdictions. Further, the PCAOB is working with the CSRC and MoF on an agreement to permit joint inspections in China of audit firms that are registered with the PCAOB and audit Chinese companies that trade in U.S. exchanges.

The press release is available on the PCAOB's Web site.

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