PCAOB Secures Complete Access to Inspect and Investigate Chinese Firms

The PCAOB announced that it has secured complete access to inspect and investigate registered public accounting firms with headquarters in mainland China and Hong Kong. According to PCAOB Chair Erica Williams, “[t]his historic and unprecedented access was only possible because of the leverage Congress created by passing the Holding Foreign Companies Accountable Act.”

For more information, see the fact sheet and HFCAA Determination Report on the PCAOB’s Web site. Also see the statements by SEC Chair Gary Gensler and Commissioner Jaime Lizárraga on the SEC’s Web site.