Sigh of relief for Big 4 in China as US SEC agrees to remove ban

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cookies Settings

Sigh of relief for Big 4 in China as US SEC agrees to remove ban

February 12 2015
mao-and-ben-2.png

The SEC in the US has sanctioned the Chinese branches of the Big 4 accounting firms for failure to disclose documents related to an investigation of potential fraud. The units had been suspended from auditing US-traded firms for six months. However, this latest SEC action removes the ban but imposes a fine of $500,000 each.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Take a Free Trial or Login

Topics

NewsChinaCompliance ManagementAsia-Pacific
more across site & shared bottom lb ros

More from across our site

Direct Tax
Sonnenuntergang hinter dem Brandenburger Tor in Berlin, Deutschl
‘Might be too late’: experts dissect planned German corporate tax cut
The reduction would still ‘leave room’ for pillar two and further reductions would be possible, one expert tells ITR
Sam Sholli, June 16 2025
Direct Tax
scholz and esterer.png
‘We will reach €1bn’: WTS Germany on PE investment
Funding from private equity house EQT will propel WTS Germany to compete with the ‘big four’, the firm’s leaders told ITR in an extensive interview
Tom Baker, June 16 2025
Direct Tax
New Zealand, Wellington
New Zealand’s new economic strategy: leveraging taxation and migration policy
New Zealand is bucking the trend of its international counterparts with its investment-friendly visa approach. Here’s what high-net-worth investors need to know
Suzie Chichester, June 13 2025
Direct Tax
LG
This week in tax: LG and Sun Pharma among pioneer CbCR companies, report finds
However, nearly 10% of reports only disclosed activities in tax havens, according to the Fair Tax Foundation; in other news, Plante Moran sealed a US east coast merger
Sam Sholli, June 13 2025
Direct Tax
B Foley pic 5.1.20 1.jpg
EY expert highlights ‘additional practical complexities’ around pillar two implementation
While pillar one is still alive, it will apply to a smaller group of companies, Brian Foley also told ITR
Sam Sholli, June 12 2025
Direct Tax
Global digital
Pillar two compliance: building a global tax control framework
Tax teams that centralise and automate their pillar two data will have a much easier time during reporting season, says Hank Moonen, CEO of TaxModel
Hank Moonen, June 11 2025
Transfer Pricing
Back office
India: Key transfer pricing issues with global capability centres
While GCCs drive efficiency for multinationals, they also present a host of TP risks that should be considered carefully
Raghav Bajaj , June 11 2025
Direct Tax
Oslo, Norway - 24 September 2022: PricewaterhouseCoopers or PWC
Trump administration ‘creating uncertainty’ for pillar two implementation: PwC Ireland
PwC Ireland has also called for simplifying Ireland’s tax code and a reduction in its capital gains tax in a pre-budget submission
Sam Sholli, June 10 2025
Direct Tax
Chonqing China business
Burden of proof in Chinese audits: legal principles and strategic responses
Effective audit management requires more than documentation; it’s the way taxpayers engage that can shape audit direction, manage procedural ambiguity, and preserve options for appeal or litigation
Abe Zhao, June 09 2025
Direct Tax
What Corporates Want 2025 640x360 - US Value Added Services.png
Opinion: US firms can’t hide from value-added services criticism
American advisers are falling short of client expectations when it comes to providing value-added services, but remaining tight-lipped won’t make the problem go away
Tom Baker, June 09 2025
Gift this article