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QUOTES 2-U.S. accounting watchdog now able to audit firms in China

News Snapshot:

The U.S. Public Company Accounting Oversight Board on Thursday said it has determined that it has gotten full access to inspect and investigate firms in China for the first time ever. The announcement from the U.S. accounting watchdog removes the risk that around 200 Chinese companies, including Alibaba , could be kicked off U.S. stock exchanges. The PCAOB said last year said that Chinese authorities had prevented it from completely inspecting and investigating in mainland China and Hong Kong. U.S. lawmakers in 2020 agreed to legislation that would oust Chinese companies from U.S. stock exchanges unless they adhere to American…

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