Two people familiar with the matter revealed that the accounting supervision committee of the US listed company (PCAOB) will not face any review restrictions when reviewing the audit draft of the listed Chinese company in New York, including the company's removal.
According to Reuters, a person familiar with the matter said that PCAOB must be able to choose a company that wants to review according to risks. If Chinese regulators need to restrict the US PCAOB's inspection permissions, US regulatory officials will not accept it.
Another person familiar with the matter said that PCAOB's censorship of the company is traceable, which means that even if the company has been removed by the New York Stock Exchange, the audited financial statements may still be reviewed.Even after the delisting, the US regulatory official may still ask the company to submit financial documents to the US Securities and Exchange Commission and be checked by PCAOB.
In addition, the person familiar with the matter added that if a company has more than 300 U.S. shareholders, or the company's transaction securities in the United States exceed a certain transaction threshold, even if the relevant company does not list on the US exchange,It may still be required to submit audited financial statements.
The United States requires the audit of all listed companies to be checked by the US PCAOB, otherwise these companies will be eliminated from the New York Stock Exchange and the Nasdaq stock market.Sino -US officials have negotiated for more than two years on this issue. As the mainland China and Hong Kong are not allowed to review the audit drafts of listed companies in the United States, the US Securities and Exchange Commission (SEC) has been focusing on some listed on New York for a long time.Companies of the two places.
Gary Gensler, chairman of the United States SEC, revealed in an interview on the 19th that it is unclear whether China -US regulatory officials can reach an agreement, whether the Chinese enterprise is delisted, and the end depending on whether Beijing will give the United States audit for the United StatesThe authority checks the permissions of the draft.The negotiations between the two sides are "constructive".He also said that he had no confidence in reaching an agreement.
The first person familiar with the matter said that the agreement between China and the United States was delayed, and the main cruise was the permissions that PCAOB had when auditing the draft.Chinese regulatory agencies hope to have different degrees of authority according to different types of companies, but US regulators cannot accept it, "we need complete permissions."
The Financial Times Sunday (July 24) quoted sources reported that China is studying how to classify Chinese companies listed in the United States based on data sensitivity.These companies will be divided into three categories: those with unsightly data, sensitive data, and confidential data need to be delisted.The plan is under discussion and may change.This may be a concession to comply with the rules of the United States.
