All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

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

February 12, 2015
Share
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 article.

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

To unlock this article:

Take a Free Trial or Login

Tags

NewsChinaCompliance ManagementAsia Pacific
more across site & bottom lb ros

More from across our site

Power line silhouette with stormy sky and rising up arrow. Electricity price increase. Energy crisis in Europe. Growing electricity consumption for home and industry. Power generation shortage.
EU-wide energy levy passes the Council without unanimity
Energy ministers agreed on regulations including a windfall tax on fossil fuel companies to address high gas prices at an extraordinary Council meeting on September 30.
Danish Mehboob, September 30, 2022
Public CbCR would act as a tool to increase corporate transparency on MNEs
This week in tax: EU concerns over pillar two vote
The European Parliament raises concerns over unanimity in voting on pillar two, while protests break out over tax reform in Colombia.
Siqalane Taho, September 30, 2022
Ramesh Khaitan - pic.jpg
Q&A: Lupin India tax SVP talks TP and tax morality
Ramesh Khaitan speaks to reporter Siqalane Taho about tax morality, transfer pricing regulations, Indian tax developments, and the OECD’s two-pillar solution.
Siqalane Taho, September 29, 2022
Sponsored
300x250@4x.png
Webinar: Navigating the risks and opportunities of remote working
Join ITR and KPMG China at 10am BST on October 19 as they discuss the personal, employment, and corporate tax-related implications of employees working from overseas.
Murray Sarelius, September 29, 2022
panel.jpg
Global TP Forum Europe: Tax leaders demand ‘simplified’ pillar one
Tricentis and Boehringer Ingelheim, along with a European Commission TP specialist, criticised the complexity of pillar one rules and their scope at an ITR event.
Leanna Reeves, September 29, 2022
Taxdisputes_panel.jpg
Managing Tax Disputes Summit: Mismatches in global TP audits laid bare
Speakers at ITR’s Managing Tax Disputes Summit said taxpayers can still face lengthy TP audits, despite strong documentation preparation
Leanna Reeves, September 28, 2022
NZ GST bill - 1.jpg
New Zealand seeks to impose GST on gig economy
Gig economy companies in New Zealand will need to fully account and become liable for the goods and services tax of underlying suppliers on their platforms, under new proposals.
Siqalane Taho, September 28, 2022
Sponsored
300x250@4x.png
Webinar: The Future of Tax Reporting
Join ITR and Thomson Reuters at 2pm (UAE) / 11am (UK) on October 13 as they discuss how businesses can prepare for Tax Administration 3.0 and future-proof against changes such as e-invoicing and increasing digitisation.
Alice Jones, September 27, 2022
tpc2022-00.jpg
Deloitte’s TP controversy guide: Prevention and resolution
ITR has partnered with global TP leaders from Deloitte to discuss transfer pricing controversy around the globe, and to share advice on how to navigate an increasingly uncertain and risky TP landscape.
Alice Jones, September 27, 2022
Contractor concept. Yellow hardhat, libella and plans on the gray tiles.
Pillar one’s safe harbour falls short of industry expectations
Sources say they are not satisfied with pillar one protections in the marketing and distribution safe harbour, even though it was designed to give businesses greater tax certainty.
Danish Mehboob, September 26, 2022
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree