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Lihua International, Inc. Message Board

  • elpasojet Jul 12, 2013 7:30 PM Flag

    Facts Sheet - S.E.D. 7/12/13

    From the Facts Sheet:

    In order to further promote and enhance audit oversight, the United States and China welcome continued dialogue between the Public Company Accounting Oversight Board (PCAOB) and competent authorities in China about the oversight of auditing firms for public companies in the two countries. Building upon the recent memorandum of understanding on enforcement cooperation signed by the PCAOB, the China Securities Regulatory Commission (CSRC), and the Chinese Ministry of Finance, these authorities commit to continuing consultation on cross-border audit oversight cooperation, and accelerating efforts towards establishing a regulatory cooperation mechanism that is consistent with applicable laws and regulations.

    In order to better protect the integrity of their respective markets, strengthen investor confidence, the United States and China commit to enhance the cooperation between their respective agencies in enforcement investigations in the securities sector through the use of information-sharing mechanisms provided for under existing international cooperation arrangements.

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