PCAOB Signs Statement of Protocol Agreement With Chinese Authorities

The PCAOB has signed a Statement of Protocol agreement with China’s Securities Regulatory Commission and Ministry of Finance. The agreement represents a “first step toward opening” the PCAOB’s inspections of registered public accounting firms headquartered in mainland China and “establishes a specific, accountable framework to make possible complete inspections and investigations by the PCAOB of audit firms based in China and Hong Kong.”

For more information, see the news release and fact sheet on the PCAOB’s Web site. Also see the fact sheet on the SEC’s Web site.