SEC Judge Bars 'Big Four' China Units for Six Months Over Audits.

[elleng]

Source: nyt/reuters

Chinese units of the global "Big Four" accounting firms should be suspended from practicing in the United States for six months, a U.S. judge ruled, in an escalation in a long-running dispute over regulators' access to audit documents.

In a harshly worded 112-page ruling, Securities and Exchange Commission Administrative Law Judge Cameron Elliot censured the Chinese affiliates of KPMG, Deloitte & Touche, PricewaterhouseCoopers and Ernst and Young.

The four firms said that they intended to appeal against the ruling. "In the meantime the firms can and will continue to serve all their clients without interruption," the four said in a joint statement.

Elliot, an SEC judge who operates independently, sided with the SEC and said the companies "willfully" failed to give U.S. regulators the audit work papers of certain Chinese companies under investigation for accounting fraud.


Read more: http://www.nytimes.com/reuters/2014/01/23/business/23reuters-sec-china-bigfour.html?hp

[Nanjing to Seoul]

1. For someone in China where the NYT is blocked by the Great Firewall, what big four?

ICBC, Bank of China, ABC and CBC?

[Princess Turandot]

2. According to the Washington Post...

the Chinese auditing firms which are the affiliates in question are: Deloitte ­Touche Tohmatsu, Ernst & Young Hua Ming, KPMG Huazhen and Pricewaterhouse Coopers Zhong Tian.

Link

[kristopher]

3. It's in the article snip in the OP

The accounting firms of
KPMG,
Deloitte & Touche,
PricewaterhouseCoopers and
Ernst and Young.

[davidpdx]

4. All those banks have one thing in common

They suck! lol

I was a customer of ICBC and what a crap bank it was.

[Nanjing to Seoul]

5. Bank of China isn't as bad as ICBC, but ICBC sucks completely.

[davidpdx]

6. Unfortunately my employer forced me to bank with them

I tried to use another bank, but I was told I couldn't.

[Nanjing to Seoul]

7. You can, but it will take an extra day or two for your direct deposit to go in. If they say you

can't, they are completely full of shit.

[davidpdx]

8. Oh, I believe it