War of words over Chinese auditors intensifies

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US clamour over Chinese auditing firms is increasing in volume. At the beginning of November James Doty, chairman of the US’s Public Company Accounting Oversight Board (PCAOB), called for the PRC to allow his staff to check the work of Chinese audit firms. Now politicians are weighing in, including Senator Charles Schumer, a Democrat on the Senate Banking Committee. Schumer wrote to Doty in November urging “immediate disciplinary actions against Chinese audit firms that continue to refuse to cooperate”.

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