SEC Sues Chinese Audit Firms
December 4, 2012
by: Jim Zarroli, NPR
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December 4, 2012
The Securities and Exchange Commission is going after the Chinese affiliates of five major accounting firms. The firms are responsible for auditing the books of other Chinese companies whose securities are publicly traded in the U.S. The SEC says the auditing firms have refused to cooperate with its investigation of accounting fraud.
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