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
belgium
Why Belgium’s exit tax rules could come under fire in the courts
Belgium’s new coalition government has gone ahead with a new exit tax regime that could land it in the courts.
Ralph Cunningham, July 30 2025
Direct Tax
Brazil tax money
Proposed Brazil digital services tax would likely hit consumers, experts suggest
Brazil’s government has not officially framed the bill as a countermeasure amid trade tensions with the US, but the move is being considered as part of Brazil’s strategic response, one expert tells ITR
Sam Sholli, July 30 2025
Direct Tax
Charity tax
Income tax considerations for foreigners forming charitable foundations in India
Understanding India’s income tax landscape can help charities ensure compliance, optimise tax benefits, and enhance their impact, writes Raghav Bajaj of Khaitan & Co
Raghav Bajaj , July 29 2025
Indirect Tax
Brazil piece.png
‘Brazil is not for amateurs’: Brazilian advisers praised for robust client service
Tax advisers in Brazil are rising above the country’s notoriously complex tax system to deliver high-quality advisory services, ITR’s exclusive in-house data reveals
Tom Baker, July 28 2025
Direct Tax
Talent Tracker_ITR image article.png
Holland & Knight tops the hiring charts again: ITR’s half-year Talent Tracker data
ITR’s data has highlighted the US firm’s ambition to become America’s ‘premier’ tax player via a concerted partner recruitment strategy
Tom Baker, July 25 2025
Direct Tax
jakarta-indonesia 600 x 375
This week in tax: A&M Tax launches Indonesia practice with ex-KPMG managing director
Jaap Zwaan’s arrival continues a recent streak of A&M Tax investing in the region; in other news, the US and Japan struck a deal that significantly lowered tariff rates
Tom Baker, July 25 2025
Transfer Pricing
ai-generated-8124241.jpg
Who gets taxed when no one’s there? AI, presence, and profit allocation
In a world where international tax concepts rely on human activity, Leonard Wagenaar poses existential questions about the future of such ideas when AI is ever-present
Leonard Wagenaar, July 24 2025
Transfer Pricing
eiffel-tower-paris-france 600 x 375
French TP case highlights transaction scrutiny trend: experts
France v Axa provides a practical illustration of how the burden of proof is applied in TP matters under French law, ITR also heard
Sam Sholli, July 24 2025
Direct Tax
Washington DC Capitol view on cloudy sky background
US corporate investors back PCbCR despite government snub: FACT director
In an exclusive interview with ITR, Ian Gary calls for a central public CbCR database and bemoans the US’s lack of involvement in international tax transparency
Tom Baker, July 23 2025
Direct Tax
Reckitt
Kirkland, Slaughter and May tax teams enlisted for $4.8bn Reckitt deal
Reckitt Benckiser is to divest its Essential Home business, which includes more than 70 brands, to private equity firm Advent International
Tom Baker, July 21 2025
Gift this article