Home Business U.S. audit inspection of Chinese companies in Hong Kong ends – sources

U.S. audit inspection of Chinese companies in Hong Kong ends – sources

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HONG KONG — U.S. audit watchdog’s onsite inspection of the audit work of New York-listed Chinese firms, which started in Hong Kong in September, has ended, three people with knowledge of the matter said, raising hopes of a resolution of a long-pending dispute.

The seven-week long onsite work by the Public Company Accounting Oversight Board (PCAOB), the U.S. audit watchdog, ended on Friday, said the sources, declining to be named as they were not authorized to speak to the media.

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The inspection started in Hong Kong after the two countries signed a pact in August to resolve a dispute that threatened to exclude more than 200 Chinese companies, including tech giant Alibaba Group Holding Ltd, from U.S. exchanges.

A spokesperson for the PCAOB declined to comment. (Reporting by Xie Yu and Julie Zhu in Hong Kong; additional reporting by Chris Prentice in Washington; Editing by Sumeet Chatterjee and Louise Heavens)



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