Sandra Hanna Comments on Next Steps in PCOAB/China Deal in Bloomberg Law
"Latest Push by Chinese Firms to Avoid U.S. Delistings Falls Short"
Sandra Hanna, practice lead of Miller & Chevalier's Securities Enforcement practice, commented in Bloomberg Law on efforts by Chinese companies to maintain their listings on U.S. stock exchanges by hiring U.S.-based audit firms, following the August agreement between the Public Company Accounting Oversight Board (PCAOB) and the China Securities Regulatory Commission and the Ministry of Finance, which allows for the inspection of audit work papers. There are recent signals that the PCAOB is sharpening its focus on the relationships between auditors, and they recently brought a case against one firm for relying too heavily on another. "More are expected as the PCAOB ramps up policing of its rules," Hanna said. The article also appeared in Law.com's Daily Business Review and Accounting Today.